Century Aluminum

Century Aluminum Company (NASDAQ: CENX) is a US-based producer of primary aluminium, with aluminum plants in the US and Iceland. It the second-largest producer of primary aluminium in the United States, after Alcoa.[1] Since 1996, since the company went public in an IPO by its parent Glencore, the company has been a publicly-held corporation listed on the NASDAQ. The headquarters is at One South Wacker in Chicago.[2][3]

History

Century Aluminum began in 1995 as the aluminium-producing subsidiary of the Swiss-based Glencore International. Century became a publicly-held corporation in an initial public offering in March 1996.[4] Glencore retains significant ownership in Century Aluminum

Operations

The company operates three aluminium smelters in the US, and one in Iceland. A fourth US aluminium smelter has been inactive since 2009, and a second Icelandic smelter is under construction. All Century's operations produce primary aluminium, that is, aluminium from ore, rather than from aluminum scrap. In 2014, the company produced 881,000 metric tons of aluminium.[5]

As of late 2015, Century was suffering from low aluminium prices, and threatened to close its South Carolina plant, and lay off 600 workers, if it did not obtain less expensive electricity.[6] Century made an agreement with Santee Cooper Power in December 2015, under which it would run the Mount Holly smelter at half capacity.[7]

Citations

  1. ↑ US Geological Survey, Aluminum, Minerals Yearbook, 2014.
  2. ↑ New York Times, Century Aluminum Company, accessed 1 Mar. 2016.
  3. ↑ "Century Aluminum moving HQ from California to One South Wacker". JLL. Retrieved 2016-08-02.
  4. ↑ “Glencore planning sale of Century Aluminum unit”, New York Times, 10 Aug. 1995.
  5. ↑ Century Aluminum, accessed 1 Mar. 2016.
  6. ↑ "Century Aluminum threatens to close Mt Holly smelter if no new power deal", Reuters, 22 Oct. 2015.
  7. ↑ Dan Hason, “Century Aluminum Company and Santee Cooper Power reached agreement” Business Finance News, 21 Dec. 2015.

See also

Aluminium industry in the United States

External links

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