Alumax to Shutter Plant in Riverside

Alumax Inc. said it will close an aluminum plate plant in Riverside by late April, eliminating 95 hourly and salaried jobs. The factory produces cast plate used in the tool-and-die, aircraft and machinery industries. The Norcross, Ga.-based aluminum producer said it will sell the 100,000-square-foot plant on 27 acres and keep its equipment. The factory’s employees will be offered the chance to apply for other jobs at Alumax. Customers of the plant will be supplied by inventory and a Lancaster, Pa., factory that opened last year, a spokesman said. Alumax shares rose 87.5 cents to close at $38 on the New York Stock Exchange. Many aluminum producers have been cutting costs in the last year amid falling prices. Analysts expect aluminum prices to improve this year.