MOSCOW. Oct 14 (Interfax) - The Russian enterprises of U.S. company Alcoa have generated a positive cash flow for the second quarter in a row but still remain loss-bearing, the company said in its materials.
Alcoa owns the Alcoa Metallurg Rus plant and Samara Metallurgical Plant.
Alcoa's President Klaus Kleinfeld said during a conference call that the company had implemented a series of anti-crisis measures at its Russian plants, which will help them quickly recover, as soon as growth appears on the market. He said that Alcoa had reduced its personnel by 22% to 6,000 persons, signed a new agreement in UC RusAl, lowered stocks by 59% in comparison with the start of the year and improved pricing for end production by signing new agreements with clients.
The losses posted by Alcoa's Russian assets were the result of low use of capacity coming to less than 50%, the company's financial director said.