Welcome to our dedicated page for Century Aluminum Co news (Ticker: CENX), a resource for investors and traders seeking the latest updates and insights on Century Aluminum Co stock.
Century Aluminum Co. (NASDAQ: CENX) is a leading primary aluminum producer supplying standard-grade, high-purity, and value-added primary aluminum products. Headquartered in Chicago, Illinois, the company operates smelter facilities in the United States, including Hawesville and Sebree in Kentucky, and Mt. Holly in South Carolina, as well as in Grundartangi, Iceland. With approximately 1,300 employees, Century Aluminum is committed to being an equal opportunity employer.
The company's strategic objective is to maximize financial returns for its stockholders through various initiatives, such as optimizing safety and environmental performance, improving cost structures, managing costs, and enhancing productivity and efficiency. Century Aluminum also aims to expand its primary aluminum business by improving and investing in its existing facilities.
Century's product portfolio includes high-purity aluminum, standard-grade aluminum sow and tee bars, and value-added billet and foundry products. In addition to its primary aluminum assets, the company operates a carbon anode and cathode manufacturing facility in Vlissingen, the Netherlands.
A significant portion of Century's revenue is generated from Glencore, which has agreed to purchase nearly all of Century Aluminum's North American production. Century Aluminum itself sources nearly all of its alumina from Glencore.
Recently, Century Aluminum has entered into a partnership with MX Holdings to establish a new joint venture focusing on the manufacture and marketing of low-carbon secondary billet. The venture aims to produce high-quality alloys with a significant amount of recycled content using low-carbon processes. Initial production is expected to begin in 2026, eventually scaling to 250 million pounds per year.
Financially, Century Aluminum is committed to improving its cost structure and productivity. The company continues to pursue upstream investment opportunities in bauxite mining, alumina refining, and the production of other key operating supplies.
In a recent development, Century Aluminum's president and CEO, Jesse Gary, praised the Biden Administration's decision to triple tariffs on Chinese aluminum imports, emphasizing that it is a critical move for the U.S. aluminum industry. The company plans to build a new greenfield facility, which will double its existing domestic capacity and be among the
Century Aluminum Company (NASDAQ: CENX) announced an agreement to acquire Noble Group Holdings Limited's 55% interest in the Jamalco joint venture in Jamaica for $1. Jamalco boasts an annual alumina production capacity of approximately 1.4 million tonnes and employs over 900 individuals. The acquisition is part of Century's strategy to secure a stable supply of alumina, which is critical for its operations. The transaction is projected to close by the end of April 2023. Jesse Gary, Century's President and CEO, stated that this integration will enhance supply chain transparency and operational efficiency, positioning Century for better performance. The move aims to tap into Jamalco's reputation for high-quality alumina production and strategic market presence, fostering long-term value creation for shareholders.
Century Aluminum Company (NASDAQ: CENX) is set to announce its first quarter 2023 earnings on May 8, 2023, after market close. A news release will be issued via GlobeNewswire, followed by a conference call at 5:00 p.m. Eastern time. The call will be accessible via the company’s website, and a replay will be available two hours post-broadcast.
This earnings report marks a significant moment for CENX, as investors look for insights into the company’s financial health and future outlook amidst fluctuating aluminum prices.
CHICAGO, March 3, 2023 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) announced its commitment to support the Biden administration's industrial innovation and decarbonization efforts. President and CEO Jesse Gary emphasized the importance of maintaining U.S. manufacturing capabilities and protecting American jobs while advancing sustainable practices. Federal investment is deemed essential for achieving these goals. Gary stated that a robust domestic aluminum market is vital for U.S. national security, economic independence, and climate objectives, paving the way for a greener future.
Century Aluminum Company (NASDAQ: CENX) expressed support for the Biden administration's decision to impose a 200% tariff on Russian aluminum imports. CEO Jesse Gary emphasized that this move aims to protect the domestic aluminum market from excess production by Russian producers, which has undercut U.S. competitors. The tariffs are framed as critical for national security, economic independence, and sustainability, contributing to a more robust domestic supply chain and a greener future for the U.S.
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