The Aluminum Smelter Company of Nigeria (ALSCON), a key player in the country's aluminum industry, has announced that its management is taking decisive steps to address ongoing financial challenges. In response to the current global downturn in the aluminum sector, as well as disruptions in gas supply and the completion of the ALSCON national grid project, the company has temporarily halted production at its smelting facilities. Stanislav Kruglyashov, the general manager, explained that these actions are aimed at minimizing losses and improving long-term sustainability.
As part of RUSAL, ALSCON has been operating in Nigeria for seven years and has consistently demonstrated its commitment to responsible business practices. The company has invested heavily in local development, including initiatives focused on education, healthcare, and community support. These efforts have helped build trust and establish ALSCON as a socially conscious organization.
In addition to reducing operational costs, ALSCON plans to streamline its workforce. While some job cuts are expected, the company has pledged to offer affected employees more generous severance packages than required by Nigerian labor laws. This approach reflects the company’s desire to maintain goodwill and support its employees during this challenging period.
Looking ahead, ALSCON remains focused on stabilizing its operations and positioning itself for future growth. With continued investment from RUSAL and a strong commitment to local development, the company aims to navigate the current crisis while maintaining its role as a key contributor to Nigeria’s industrial and economic landscape.
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