March 4, 2021

Alcoa and the unions reach an agreement that unlocks the sale of their plants to Parter

Alcoa and the unions have reached an agreement this morning that unlocks the sale of their factories in Avilés and La Coruña to Swiss investor Parter Capital, which is given until July 31 to present the guarantees required by the seller.

The agreement avoids the entry into force on Monday of the ERE that would affect the 600 families that depend on these plants, which will have an "industrial and labor future" for at least 24 months, although the investor's will is to establish in the long term in Spain and "go further", said today the sectarian State of Industry, Raúl Blanco, in statements to several radio stations.

"This is a very important step on the road we started nine months ago, when Alcoa announced the closure of the plants in October, and thanks to the effort between the parties, a labor agreement was reached in January" and a buyer was subsequently obtained. noted Blanco, who stressed that now "the circle is closed".

However, if Parter failed to submit the liquidity guarantees to formalize the purchase of both plants required by Alcoa before July 31, the ERE agreed in January with the unions would be executed as of August 1.

"This possibility is not contemplated", since it is already negotiated with different financial entities, although we must be prudent, Blanco pointed out.

Industry sources have indicated that this morning's agreement was reached after the reluctance of the Asturias works council was overcome, adding that the agreement will allow unions to "take notice" of the steps taken and do not see themselves in the obligation to ratify the sale of the plants.

"It is good news that the representatives of the workers have signed their agreement to the process, this is a very important step to advance in the acquisition of the plants by Parter Capital," said Alcoa, thanking the support received by the of the Executive, the governments of Asturias and Galicia and of the representatives of the workers.

. (tagsToTranslate) Alcoa (t) unions (t) agreement (t) unlocks (t) Parter

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