Slovenian company Talum will in April stop producing primary aluminum, since high electricity prices have made its production unprofitable, local media reported on Friday, Trend reports citing Xinhua.
Talum, one of the top ten global primary aluminum producers, has been reducing its output in recent years. Currently, it only uses 11 out of its 160 cells for aluminum production.
The company would continue making aluminum products, it said, and could in the future restart aluminum production if it becomes economically viable.
However, in the short-term there will be job cuts due to the changes, Talum said, without offering details on the exact number of redundancies set to come. Radio Slovenia reported that the company could dismiss around 120 people.
Talum employs a total of 1,500 people, and will celebrate its 70th anniversary next year.