U.S. aluminium firm, Alcoa, which is pulling out of Jamaica after 55 years, has reported a second-quarter profit of US$138 million. The profit reverses a loss from a year ago.
Alcoa said the positive result was due to strong performance in its engineered-products business, which makes parts for industrial customers.
Alcoa has struggled in recent years as low aluminium prices hit its bottom line.
The company which owns a 55 per cent stake in Clarendon based alumina refinery, Jamalco, is selling its shares to Noble Resources UK, but will continue to manage the refinery for a further two years.
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Alcoa records 2nd quarter profit of US$138M
