250 jobs go as Anglesey Aluminium Metal closes

Anglesey Aluminium Metal, based near Holyhead, will cease its smelting activities next month with the loss of 250 jobs. Anglesey Aluminium Metal (AAM), based near Holyhead, is to shut down with the loss of 250 jobs. The aluminium manufacturer will cease its smelting activities next month, the company said in a statement. Last month 140 people at the firm took voluntary redundancy following a consultation exercise about the company’s future. A further 250 people were given compulsory redundancy after negotiations to secure the firm’s future failed, despite the offer of a ?48 million Government rescue package. A spokesman for AAM said: “AAM and its joint venture partners Rio Tinto Alcan and Kaiser Aluminum have assessed a number of alternate solutions. “Despite the best efforts of all involved, it has not been possible to reach a viable solution. “AAM would like to recognise and thank all those who worked so hard to try and successfully resolve this difficult problem.” An AMM spokesman said negotiations with the Nuclear Decommissioning Authority to extend their existing power contract had failed. Welsh Secretary Peter Hain said he was “bitterly disappointed” at the closure. He told the BBC: “We put forward an extremely generous proposal in good faith which would have provided ?48million financial assistance to the plant over the next four years. “We undertook a huge amount of detailed work in a very short time to put the package together but it was simply not possible to reach an agreement.” About 80 staff are likely to be employed when the firm transfers its operations to resmelting activities. An AAM spokesman said the outcome of feasibility studies for a large scale renewable power project located on the site would be known next year. source:business.timesonline.co.uk