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Alcoa to sell two plants in Hungary – report

  Aluminium maker Alcoa will sell two of its manufacturing plants in Hungary in line with cost-cutting plans announced earlier, business daily Világgazdaság reported on Wednesday.

The US company, Hungary’s 12th-biggest employer, will sell its wiring harness making unit in the town of Mór and car parts maker Alcoa-Köfém Kft in nearby Székesfehérvár, the paper cited Alcoa-Köfém PR director Ferenc Furulyás as saying. Furulyás could not immediately be reached for comment.

The plant in Székesfehérvár employs 65 workers, while the factory in Mor has 2,500 employees, the paper said. Alcoa laid off 550 workers in the past two months from the Mór factory, and Furulyás said it planned to cut a further 150 jobs in April. Furulyás said any further layoffs depended on the economic outlook.

Hungary’s government expects the economy to contract by 3.5% this year. Unemployment in November-January rose to 8.4% as industrial production plunged in December and several factories in the sector cut jobs and reduced working hours. (Reuters)