Century Aluminum Co
CENXCentury Aluminum Co. (CENX) is a U.S.-based aluminum producer specializing in primary aluminum smelting. The company operates integrated smelting facilities and supplies aluminum for the packaging, automotive, aerospace, and industrial markets. Established in 1995, Century Aluminum is known for its focus on energy-efficient production and sustainable practices within the aluminum industry.
Company News
AI's massive power consumption is disrupting the aluminum industry by outbidding smelters for electricity, potentially constraining global aluminum supply and hindering clean technology development.
Century Aluminum's Grundartangi smelter in Iceland experienced an electrical equipment failure, forcing a temporary shutdown of one potline and reducing production by approximately two-thirds. No injuries occurred, and the company expects insurance coverage for potential losses.
Law firm Kahn Swick & Foti, LLC has initiated an investigation into Century Aluminum Company, examining potential breaches of fiduciary duties or violations of state/federal laws by its officers and directors.
U.S. tariffs on aluminum are disrupting global supply chains, causing price volatility, and threatening European recycling industries, with significant implications for manufacturing and clean energy sectors.
Century Aluminum has priced a private offering of $400 million senior secured notes due in August 2032, with a 6.875% interest rate. The proceeds will be used to refinance existing notes, repay credit facilities, and cover transaction expenses.
