HomeGAA in the MediaNewsPress ReleasesCC METALS AND ALLOYS TO TEMPORARILY SUSPEND FERROSILICON PRODUCTION, EFFECTIVE JULY 1

 

 CC METALS AND ALLOYS TO TEMPORARILY SUSPEND FERROSILICON PRODUCTION, EFFECTIVE JULY 1

 Production halt expected to last three months; company to leverage existing inventory to meet customer orders

CALVERT CITY, KY (June 23, 2015) – CC Metals and Alloys, LLC (“CCMA”) today announced that it will temporarily suspend ferrosilicon production at its Calvert City plant, effective July 1, 2015.

The production halt, which is expected to last three months, will allow CCMA to reduce inventories that have accumulated as a result of weakened market demand and the increased levels of imports that have prevailed during the first half of the year. Approximately 65 percent of CCMA’s workforce, or 109 employees, will be affected by layoffs related to the idling.

“This is a difficult decision to make and we share the disappointment of our employees, but we believe this is the only reasonable course of action at this time,” said Mordechai “Motti” Korf, Chief Executive Officer of CCMA’s parent company, Georgian American Alloys, Inc.

CCMA does not anticipate that there will be any disruption for customers and the Company will continue to operate all sales and shipping activities during the idle period.