More bad economic news today. This time it's from the Alcoa North American Rolled Products plant in Texarkana. Rep. Steve Harrelson notes on his blog that the company has decided to "idle" for an indefinite period of time. 250 employees will be affected.
[Company] President Mick Wallis said the idling is a direct result of the current economic environment and on-going credit crisis which has significantly reduced the demand for the Alcoa product. Resumption of operations at the plant will be dependent upon an improvement in these market conditions, he said.