On December 17, 2008, Century Aluminum of West Virginia, Inc. (CAWV), an
independent operating subsidiary of Century Aluminum Company (the “Company”),
issued a conditional Worker Adjustment and Retraining Notification Act (WARN)
notice at its Ravenswood, West Virginia smelter related to a possible 100%
curtailment of plant operations in 60 days. This facility employs approximately
684 persons. Simultaneously with the issuance of the WARN, CAWV began the
immediate curtailment of one of its four potlines which is expected to be
completed by December 20, 2008. The potline curtailment will ultimately impact
an estimated 120 employees, who will be temporarily redeployed throughout the
smelter.
Separations from employment at the Ravenswood smelter could begin in
approximately 60 days. However, CAWV intends to work during this
60 day notice period with suppliers, customers, employees and government
officials to explore avenues for maintaining plant operations in some form. The
Company cannot predict what, if any, outcome will result from CAWV's efforts
during this 60 day period and the effect of those efforts on the Company's
future financial performance. The Company believes that the impact of the
curtailment of the single potline is not likely to have a material adverse
effect on its financial condition or results of operations.
The Ravenswood smelter began operations in 1957 and produces approximately
170,000 metric tons of aluminum per year, or approximately 22
percent of the Company's annual primary aluminum production capacity.
A copy of the Company's press release is attached as Exhibit 99.1 and is
incorporated herein by reference.
Century Aluminum Company owns primary aluminum capacity in the United States
and Iceland, as well as an ownership interest in alumina and
bauxite assets in the United States and Jamaica. The Company's corporate
offices are located in Monterey, California.
The press release attached as Exhibit 99.1 hereto contains "forward−looking
statements" within the meaning of U.S. federal securities laws. The
Company has based its forward−looking statements on current expectations and
projections about the future, however, these statements are subject to risks,
uncertainties and assumptions. Any of these risks and uncertainties could cause
the Company's actual results to differ materially from those expressed in its
forward−looking statements. More information about the Company's risks,
uncertainties and assumptions can be found in the risk factors and
forward−looking statements cautionary language contained in the Company's
Annual Report on Form 10−K, its Quarterly Reports on Form 10−Q and in
other filings made with the Securities and Exchange Commission. The Company
does not undertake, and specifically disclaims, any obligation to revise
any forward−looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date such forward−looking
statements are made.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
The following exhibit is being furnished with this report pursuant to Item 8.01
