The Aluminum Smelter Company of Nigeria (ALSCON), a key player in the country's aluminum industry, has announced that its management is implementing new strategies to address ongoing financial challenges. In response to the current global aluminum market downturn, as well as disruptions in gas supply and the completion of the ALSCON national grid project, the company has temporarily halted its smelting operations. Stanislav Kruglyashov, ALSCON’s general manager, explained that these steps are necessary to stabilize the business and reduce operational costs. The company plans to cut its workforce, though it has pledged to offer severance packages that exceed the minimum standards set by Nigerian labor laws.
As a subsidiary of RUSAL, ALSCON has been operating in Nigeria for seven years and has consistently demonstrated a commitment to responsible corporate practices. RUSAL has invested heavily in the development of ALSCON, supporting its growth and long-term sustainability. Beyond its industrial operations, ALSCON actively engages in community initiatives aimed at improving local living conditions. This includes funding educational programs, healthcare services, and other social development projects that directly benefit the surrounding communities.
Despite the current challenges, the company remains focused on its vision of long-term stability and growth. ALSCON continues to work closely with local authorities and stakeholders to ensure that its operations align with national economic goals and environmental standards. The company’s leadership remains optimistic about future recovery and is exploring new opportunities to enhance efficiency and competitiveness in the global aluminum market.
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