Welcome to our dedicated page for Century Alum news (Ticker: CENX), a resource for investors and traders seeking the latest updates and insights on Century Alum stock.
Century Aluminum Co. reports developments in primary aluminum production, including operating results, shipments, realized metal prices, power costs and raw material price effects. The company produces high-purity aluminum, standard-grade sow and tee bars, and value-added billet and foundry products through smelter operations in the United States and Iceland, with a carbon anode facility in the Netherlands.
Recurring company news includes production restarts and expansion activity at sites such as Mt. Holly and Grundartangi, updates tied to equipment reliability and insurance recoveries, domestic aluminum policy commentary, customer and supply-chain themes, and senior operations leadership changes.
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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