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Century Aluminum Co Announces Agreement To Acquire Assets Of Sebree, KY Smelter


Monday, 29 Apr 2013 09:20am EDT 

Century Aluminum Co announced that wholly owned subsidiary has entered into a definitive agreement to acquire substantially all of the assets of the Sebree aluminum smelter from a subsidiary of Rio Tinto Alcan, Inc. Sebree, located in Henderson County, Kentucky, employs over 500 men and women and has an annual production capacity of 205,000 metric tons of primary aluminum. Pursuant to the terms of the agreement, Century will acquire the smelter for $61 million in cash (after $4 million in purchase price deductions) and will receive $71 million in working capital. As part of the transaction, RTA will retain all historical environmental liabilities of the Sebree smelter and has agreed to fully fund the pension plan being assumed by Century's subsidiary at closing. 

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24.98
0.375 +1.52%
29 Aug 2014