Welcome to our dedicated page for Century Alum Co news (Ticker: CENX), a resource for investors and traders seeking the latest updates and insights on Century Alum Co stock.
Century Aluminum Company (NASDAQ: CENX) is an integrated producer of bauxite, alumina and primary aluminum products and has described itself as the largest producer of primary aluminum in the United States. With corporate headquarters in Chicago, Illinois, the company owns and operates primary aluminum smelting facilities in the United States and Iceland, operates production facilities in the Netherlands and is the majority owner and managing partner of the Jamalco alumina refinery in Jamaica.
This news page aggregates company announcements, press releases and market updates related to Century Aluminum. Readers can follow quarterly earnings releases, where the company reports net sales, aluminum shipments, net income or loss, and non-GAAP measures such as adjusted net income and adjusted EBITDA. These earnings updates often include commentary on aluminum prices, regional premiums, derivative results, raw material costs, power prices and other factors that influence Century Aluminum’s performance.
News items also cover operational developments across Century Aluminum’s global footprint. Examples include reports on equipment issues at the Grundartangi smelter in Iceland, such as an electrical equipment failure that temporarily reduced production on one potline, and updates from the Jamalco alumina refinery in Jamaica, including temporary curtailment and restart procedures following Hurricane Melissa. The company has also issued news about power agreements and plans to restart idled capacity at its Mt. Holly smelter in South Carolina, which it links to trade measures such as Section 232 aluminum tariffs.
In addition, Century Aluminum publishes announcements about financing activities, such as the pricing and closing of senior secured notes offerings and amendments to its credit facilities. For investors and followers of CENX stock, this news stream provides a centralized view of financial results, operational events, capital structure changes and other material developments affecting the company’s integrated aluminum operations.
Century Aluminum (NASDAQ: CENX) announced a possible curtailment of its Mt. Holly smelter operations unless a competitively priced power agreement is secured before December 31, 2020. The current contract with Santee Cooper is set to expire, and its rates are significantly higher than market prices. The CEO expressed concerns that closing the smelter would negatively impact 295 employees and the local economy, which relies on the plant's operations. The smelter’s closure could hinder aluminum production in the U.S. and jeopardize over $1 billion in economic activity.
Century Aluminum Company (NASDAQ: CENX) is set to report its third quarter 2020 earnings on Thursday, October 29, 2020, after market close. The earnings announcement will be disseminated via GlobeNewswire. Additionally, a conference call will take place on the same day at 5:00 p.m. Eastern time, which will be available for live webcasting on the company's website. A replay of the call will be accessible roughly two hours post-call.
On August 6, 2020, President Trump reinstated Section 232 aluminum tariffs on Canada due to a 95% increase in Canadian aluminum imports over the past year. Century Aluminum Company (CENX) CEO Michael Bless praised the move, highlighting its importance for U.S. aluminum production and job security. As the largest U.S. primary aluminum producer, Century aims to ensure the domestic aluminum supply chain remains robust. The Hawesville, KY smelter is noted as essential for high purity aluminum production for defense applications.
Century Aluminum Company (NASDAQ: CENX) is set to release its second quarter 2020 earnings on August 5, 2020, after market close. A conference call will follow on the same day at 5:00 p.m. Eastern time, which will be available for live streaming on the company's website.
Investors are encouraged to register at least 10 minutes prior to the call, and a replay will be accessible approximately two hours post-event.
Century Aluminum Company (CENX) announced the pricing of its $250 million private offering of senior secured notes due 2025. The notes will be issued at 99% of their face value and carry an interest rate of 10.00% cash and 2.00% in additional notes. Proceeds will finance the purchase of Century's existing 7.50% notes due 2021. The offering targets qualified institutional buyers and will close on July 1, 2020. The company cautioned that transactions are subject to risks and uncertainties, which could affect outcomes.
Century Aluminum Company (CENX) announced a cash tender offer to buy all of its 7.500% Senior Secured Notes due 2021, totaling $250 million. The Tender Offer will expire on June 26, 2020, unless extended. This move aims to refinance the existing Notes with longer maturity financing. Holders will receive $1,000 for each $1,000 principal amount of Notes accepted, plus accrued interest up to the expected Settlement Date of July 1, 2020. The company plans to redeem any Notes not purchased by July 31, 2020.
Century Aluminum Company (NASDAQ: CENX) announced a proposed offering of $250 million in senior secured notes due 2025. In conjunction, the company has initiated a cash tender offer for its existing $250 million in 7.500% senior secured notes due 2021. The net proceeds from the new notes will finance the purchase of existing notes and cover expenses related to the offering. The new notes will be sold to qualified institutional buyers under Rule 144A and are not registered under the Securities Act. Completion of these transactions is not guaranteed.
Century Aluminum Company (CENX) announced its 2020 Annual Meeting of Stockholders will be held virtually on June 8, 2020, starting at 3:00 p.m. Central Time due to COVID-19. Stockholders as of April 21, 2020, can access the meeting online and participate via a live audio webcast. They are encouraged to vote in advance using methods outlined in the proxy materials, which remain valid despite the format change. Additional information has been filed with the SEC regarding the meeting.
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