Welcome to our dedicated page for Century Alum Co news (Ticker: CENX), a resource for investors and traders seeking the latest updates and insights on Century Alum Co stock.
Century Aluminum Co (CENX) maintains this comprehensive news hub for tracking official announcements and market developments. Access verified press releases and financial updates from the integrated aluminum producer with facilities across North America and Europe.
This resource provides investors and industry professionals with critical updates including quarterly earnings reports, production capacity changes, strategic partnerships, and sustainability initiatives. All content is vetted for accuracy and updated as new developments emerge.
Key coverage areas include smelting operations optimization, low-carbon production advancements, raw material supply chain updates, and leadership announcements. Users can monitor both domestic US operations and international projects through this centralized platform.
Bookmark this page for direct access to Century Aluminum's official communications, including regulatory filings and material event disclosures. Combine with our market analysis tools for complete aluminum sector insights.
Century Aluminum Company (NASDAQ: CENX) announced the ratification of a five-year collective bargaining agreement with United Steelworkers Local 9423 for its Hawesville, Kentucky smelter, effective until April 1, 2026. This agreement affects approximately 350 hourly workers and is expected to enhance operational stability. Additionally, the company plans to create around 60 new jobs at the facility, reflecting its commitment to expansion in a competitive aluminum market.
On April 12, 2021, Century Aluminum Company (CENX) announced the results of its cash tender offer for its 12.0% Senior Secured Notes due 2025. As of April 9, it received tenders for $195.91 million of the $250 million outstanding principal amount. Century plans to purchase all validly tendered Notes by April 14, 2021, following satisfactory financing transactions. Additionally, any unsold Notes will be called for redemption on May 14, 2021, at 100% of the principal plus a make-whole premium. Credit Suisse is the dealer manager for the offer, with D.F. King as the tender agent.
On April 9, 2021, Century Aluminum Company (CENX) announced the closure of a private offering of 2.75% convertible senior notes, raising gross proceeds of $86.25 million. Net proceeds are approximately $82.9 million after expenses, intended primarily for repaying existing high-interest debts and funding capped call transactions. The notes mature on May 1, 2028, and are convertible into cash or shares, with an initial conversion price of about $18.74 per share. This financing strategy aims to strengthen Century's capital structure.
Century Aluminum Company (NASDAQ: CENX) announced the pricing of its private offerings: $250 million of 7.50% senior secured notes and $75 million of 2.75% convertible senior notes. The secured notes offering is set to close on April 14, 2021, while the convertible notes offering will close on April 9, 2021. Proceeds from these offerings will primarily be used to repay existing senior secured notes and reduce borrowings under credit facilities. The convertible notes have an initial conversion price of approximately $18.74, representing a premium to current stock prices.
Century Aluminum Company (NASDAQ: CENX) has announced a proposed private offering of $250 million in senior secured notes due April 2028 and $75 million in convertible senior notes due May 2028. The company plans to utilize net proceeds from these offerings to repay its existing 12.0% Senior Secured Notes due 2025 and reduce borrowings under its credit facilities. Additional capped call transactions may be entered to manage potential dilution. These transactions are subject to market conditions.
Century Aluminum Company (NASDAQ: CENX) announced a cash tender offer for its 12.0% Senior Secured Notes due 2025. This offer aims to refinance these Notes with longer maturity financing. The tender offer is set to expire on April 9, 2021, and payment for accepted Notes will occur on the expected settlement date of April 14, 2021. The offer is not contingent on a minimum amount of Notes being tendered, but is subject to financial transactions that meet Century's requirements. Additional details on the offer can be found in the Offer to Purchase documentation.
Century Aluminum announced a new three-year power contract with Santee Cooper for its Mt. Holly smelter, effective April 1, 2021, allowing a 50% production increase. Restart work is on schedule for Q4 2021. The contract also rescinds the WARN notice for employees. Despite market challenges, the company forecasts a potential $70 million increase in adjusted EBITDA for Q2 2021, driven by favorable pricing conditions. However, equipment issues at the Hawesville plant may reduce shipments by 20,000 to 25,000 metric tons in the last three quarters of the year, impacting overall performance.
Century Aluminum Company (NASDAQ: CENX) reported its fourth quarter and full year 2020 results, highlighting a net loss of $35.5 million or $0.40 per share in Q4, with adjusted EBITDA of $0.8 million. For the full year, the company faced a net loss of $123.3 million, down from $80.8 million in 2019. Despite these losses, Century noted improvements in cash position, and a stable production outlook. The company is optimistic about demand recovery, ongoing power agreements, and initiatives towards sustainability.
Century Aluminum Company (NASDAQ: CENX) has appointed Gunnar Gudlaugsson as Executive Vice President of Global Operations, effective immediately. Gudlaugsson has been with the company since 2008 and has held several leadership roles. His promotion comes as John Hoerner, current EVP of North American Operations, will retire after ten years of service but will remain as an advisor until October 2021. CEO Michael Bless acknowledged Hoerner's significant contributions to the company and the U.S. aluminum industry.
Century Aluminum Company (CENX) will disclose its fourth quarter 2020 earnings on February 18, 2021, following market close. The announcement will be made via GlobeNewswire, and a live conference call is scheduled for the same day at 5:00 p.m. Eastern time. Investors can access the webcast on the company’s website and a replay will be available shortly after. This earnings report is anticipated to provide insights into the company's financial performance and future outlook.
