Rusal closes 4 factories

The Rusal aluminum company has temporarily closed its factories in Volgograd, Ural, Bogoslov and Nadvoitsy until 2015. 7560 people work at the factories, Vedomosti reports.

The company wants to save $150 million a year to pay off loans.

Rusal reduced aluminum production by 7% (300,000 tons) to remain competitive. Director General Oleg Deripsaka clarified that reduction was made at unprofitable facilities the company took under control from Sual and Siberian factories operating via subsidies.