Century Aluminium plant in West Virginia awaits new ownership

Soon after reporting a net loss of $58.3 million ($0.67 per share) in Q3 2016 against $9.5 million ($0.11 per share) in Q2 2016, Century Aluminium is now awaiting a possible change of ownership, reported an industry source aware of the matter. Speculations are running rife that the aluminium company that once employed more than 600 people in Ravenswood, West Virginia, is on the verge of gaining new ownership. But it is likely that the plant will no longer make aluminium; instead it will get a new life as a coal liquefaction facility.

According to the source, executive director of the Jackson County Development Authority, Mark Whitley has confirmed that there is one interested buyer who has neared the conclusion of a deal with the Chicago based aluminium producer.

“There is one particular client that we’re focused on that would be very beneficial to our region and to the state of West Virginia. We continue to work with that particular company as they go through their due diligence,” Whitley said.



Century closed its operations in its Ravenswood plant finally in 2015 after facing serious challenges under severe market volatility which amounted to huge losses. The process had begun way back in 2009. Since then, the community in Jackson County has lived with the hope that some development will take place and the plant will start operations again. This was legitimate on their part since the plant has remained a major employer for Jackson County and the surrounding area. With the recent developments, not confirmed though, they are feeling hopeful all over again.

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New industry would help Ravenswood thrive, said Lucy Harbert, a former mayor. “Any business that comes to this end of the county would be great,” Harbert said. “Ravenswood really needs a shot in the arm.”