Century Aluminum Acquires European Anode Facility

Mon Jun 11, 2012 9:00am EDT

* Reuters is not responsible for the content in this press release.

  MONTEREY, CA, Jun 11 (Marketwire) -- 
Century Aluminum Company (NASDAQ: CENX) announced today that its wholly
owned subsidiary, Century Anodes B.V., has entered into a definitive
agreement to purchase substantially all of the assets of the anode
production facility of the former Zeeland Aluminum Company (Zalco) for
EUR 10 million in cash. Century Anodes will not assume any historical
liabilities in the transaction. 

    Located in Vlissingen, The Netherlands, the former Zalco facility, which
is currently curtailed, will provide an additional secure source of
captive anode production for Century's Grundartangi, Iceland smelter. The
approximately 150,000 tonne anode facility also could supply anodes to
Century's smelter project in Helguvik, Iceland upon the project's
completion. The acquisition is a continuation of Century's efforts to
opportunistically secure access to strategic assets and cut costs within
a challenging global economy.

    "We are very familiar with the Zalco anode plant and its high quality and
cost competitive products. This transaction provides outstanding benefits
to Century by securing a key production element within close proximity to
our Icelandic operations," commented Michael A. Bless, Century's
President and Chief Executive Officer. "The acquisition of this facility,
along with our 40 percent stake in Baise Haohai Carbon Co., Ltd., will
allow us ultimately to supply all of our Icelandic anode requirements
with captive production." 

    In anticipation of a restart of anode production in the third quarter of
2013, Century intends to undertake an approximately $45 million
investment program, including capital expenditures, restart expenses and
working capital, to modernize the anode facility and optimize production
for its existing Grundartangi smelter and the planned Helguvik smelter. 

    Century Aluminum Company owns primary aluminum capacity in the United
States and Iceland. Century's corporate offices are located in Monterey,
Calif. More information can be found at www.centuryaluminum.com. 

    Cautionary Statement 
 This press release may contain "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 which could cause the
company's actual results to differ materially from those expressed in its
forward-looking statements. Forward-looking statements in this press
release include, without limitation, statements regarding the ultimate
completion of the acquisition of the Zalco anode facility, the anode
facility's ultimate production capacity, Century's ability to supply its
Icelandic operations with captive anode production as well as statements
regarding the completion of the Helguvik project. More information about
these 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 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.

    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, NBI hf. 
 Steingrimur
Helgason, Director -- Corporate Finance, NBI hf. 

    

Contacts:

Lindsey Berryhill
(media)
831-642-9364

Shelly Harrison
(investors)
831-642-9357 

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