Aluworks Limited at Tema is to import metal, its raw material, to facilitate its operations in view of the cut in metal supplies to it by VALCO. A statement issued in Accra on Thursday by the company in reaction to the reported closure of VALCO, due to the low level of the Akosombo Dam, said: "Following the initial reduction in supplies to us by VALCO, Aluworks began enquiries regarding importation of metal. These enquiries have now resulted in definitive arrangements to import metal. "It may take a couple of months for our metal supply situation to return to normal. In the meantime, we are making the best use of available metal to service our customers. "We are also in discussion with the management of VALCO to see if they can assist our operations by releasing to us stocks in case they have some leftover metal which will meet the immediate requirements of the local industries," the statement said. It assured customers that every effort was being made to ensure continued production using imported material. Aluworks Ltd. at Tema, which is an Aluminium Continuous Casting and Rolling Mill facility gets its raw material, namely, primary aluminum, from Volta Aluminium Company (VALCO) both in molten metal and in the form of ingots. Aluworks converts the primary aluminum into semi-finished coils and sheets for the construction industry and circles for the hollowware industry. There are about 125 local companies producing roofing sheets, cookware and other products including tanks, electric poles and louvre windows from the company's products. Meanwhile, each of VALCO's 500 employees affected by the shut down exercise is to take home five months' salary. This is made up of three months' salary in lieu of notice, according to their conditions of service, and two months salary for the 16-month period that they have worked in the company. Additionally, the affected workers and their families will access medical facilities at the company's hospital free of charge for one year. A source close to the affected employees who spoke on condition of anonymity said that the package was announced at a meeting with the departmental heads. However, 200 other employees, comprising, staff of maintenance and security departments as well as some key members of staff, are being retained to secure and maintain the plant. The Ghanaian Times says prior to the shutdown which was originally scheduled for February 28 but had to be postponed to yesterday because of the Ghana Jubilee celebration, management had asked employees to suggest an appropriate package for a severance award. Their suggestion of a loan of between ¢50 and ¢100 million to enable them to support their families, among other things, was however turned down by management who advised them to secure the loans through the banks. "How can an unemployed person access a loan from a bank?" a source asked. It further revealed that the affected employees were disappointed because after giving of their best, they have to leave with that paltry amount due to the shutdown. The source said the worst of it is that some of the affected employees had left lucrative jobs abroad to take up positions in the plant only to be declared redundant after 16 months' operation. The Ghanaian Times said its visit to the plant confirmed that mood as most of them were walking about morosely. Meanwhile prices of aluminum products such as roofing sheets, cookware and other products may go up as a result of the VALCO shut down which is said to push up aluminum prices on the world market. The price of aluminum has gone up from 2,802 dollars a metric tonne from 2,715 as news of the VALCO shutdown hit the world market. Traders believe the loss of output from Ghana would help buoy aluminum prices. Aluworks Managing Director Kondagunta Venkataraman tells Joy News that it has initiated moves to buy metal from South Africa but adds that will come at an additional cost in the form of bank charges and inventory. Meanwhile Alcoa which owns 10 percent of VALCO saw its shares go up by 2.5 percent to 34.15 dollars, a day after VALCO closed down indefinitely.