Spain Police Raid Metals Giant Alcoa Over Plant Closures
Umer Jamshaid 1 month ago Fri 05th March 2021 | 09:10 AM
Madrid, March 5 (UrduPoint / Pakistan Point News - 5th Mar, 2021 ) :Spanish police on Thursday carried out multiple raids targeting the premises of US aluminium giant Alcoa on suspicion of fraud in the closure of smelting plants in northwestern Spain.
In a statement, Alcoa said it was cooperating with the authorities, and that its sale of the Aviles and La Coruna plants "was endorsed by the Spanish government and supported by the workers representatives".
A year later Alcoa announced the closure of its third plant in the northern port town of San Cibrao.
The investigation was sparked by a complaint by a trade association body and 20 other plaintiffs citing fraud and misappropriation of property.
In its statement, Alcoa said it has since filed a lawsuit against Parter related to their sale of shares in the two plants.
In total, investigators were searching 11 sites across Spain, including production plants, lawyers' offices and private homes, with raids also taking place in the southern city of Malaga and in Castellon near Valencia on the eastern coast.