CHICAGO, IL--(Marketwired - October 30, 2015) - Century Aluminum Sebree LLC, a wholly-owned subsidiary of Century Aluminum Company (NASDAQ: CENX), today issued a notice to employees at its Sebree, Kentucky aluminum smelter of its intent to curtail one of its three potlines lines by December 31, 2015. The announcement was made pursuant to the federal Working Adjustment and Retraining Notification Act (WARN).
"We regret issuing this notice and absolutely recognize the impact it will have on our employees, in our community and with our customers," commented Michael Bless, President and CEO. "This is a direct result of Chinese overcapacity and the improper export of heavily-subsidized Chinese aluminum products that has caused the significant decline in the price of aluminum. Sebree is one of the most cost-effective smelters in the U.S. with an excellent product mix and its continued operation is now in jeopardy due to unfair Chinese trade behavior. Actions must be taken to immediately address this unfair behavior and we are working with the industry and the U.S. government to do so."
There are approximately 525 employees at Sebree. At full capacity, the plant annually produces approximately 210,000 metric tonnes of aluminum.
About Century Aluminum
Century Aluminum Company owns primary aluminum capacity in the United States and Iceland. Century's corporate offices are located in Chicago, IL.
Visit www.centuryaluminum.com for more information.
Certified Advisors for the First North market of the OMX Nordic Exchange Iceland hf. for Global Depositary Receipts in Iceland:
Atli B. Gudmundsson, Senior Manager -- Corporate Finance, Landsbankinn hf.
Steingrimur Helgason, Director -- Corporate Finance, Landsbankinn hf.