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Speculation surrounds Century plant
Edited by : AL CIRCLE
1 min read
Rumors are increasing that the closed Century Aluminum plant in Ravenswood may be sold soon, an industry trade publication reported last week.
However, at least one analyst says that, not only does a sale not make sense right now, but there's no good reason why the shuttered aluminum smelter shouldn't already be back up and running.
Last week, a report by American Metals Market said speculation was mounting that the Ravenswood plant was on the auction block.
The report cited several unnamed industry analysts who said the Monterey, Ca.-based company is looking to sell off some of its aging U.S. assets such as the Ravenswood plant, so long as the price was right.
"I don't see why they wouldn't sell it — that's a company that I think wants to be Iceland-based and not U.S.-based," one unnamed analyst said in the article.
The report named Hannibal, Ohio-based Ormet Corporation and Noranda Aluminum of Franklin, Tenn. as potential buyers. Both companies, which are smaller than Century, operate one aluminum smelter each.
A spokesman for Ormet wouldn't comment on the rumors Friday, but said the company is looking to expand operations.
However, at least one analyst says that, not only does a sale not make sense right now, but there's no good reason why the shuttered aluminum smelter shouldn't already be back up and running.
Last week, a report by American Metals Market said speculation was mounting that the Ravenswood plant was on the auction block.
The report cited several unnamed industry analysts who said the Monterey, Ca.-based company is looking to sell off some of its aging U.S. assets such as the Ravenswood plant, so long as the price was right.
"I don't see why they wouldn't sell it — that's a company that I think wants to be Iceland-based and not U.S.-based," one unnamed analyst said in the article.
The report named Hannibal, Ohio-based Ormet Corporation and Noranda Aluminum of Franklin, Tenn. as potential buyers. Both companies, which are smaller than Century, operate one aluminum smelter each.
A spokesman for Ormet wouldn't comment on the rumors Friday, but said the company is looking to expand operations.
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