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Century Aluminum Unable to Complete Long-Term Power Contract for Hawesville, KY

Posted by anzhuo on December 23rd, 2015



MONTEREY, CA--(Marketwire - May 29, 2009) - Century Aluminum of Kentucky, a wholly owned subsidiary of Century Aluminum Company (NASDAQ: CENX) Homme Adidas Ultra Boost Clima Grise Pas Cher , today announced that due to unfavorable business conditions, it is unable at this time to move forward on a proposed new, long-term power contract for the company's Hawesville, Kentucky smelter. Century, along with Western Kentucky Energy (a subsidiary of E.ON U.S.), Big Rivers Energy Adidas Ultra Boost Uncaged Noir Boost Noir Pas Cher , and Rio Tinto Alcan, has been working for more than five years to negotiate an "unwind" of the existing contractual arrangement between Big Rivers and Western Kentucky Energy (WKE), and to define a new agreement that would provide long-term and affordable power to the two smelters in western Kentucky. "We are disappointed that we cannot proceed with the transaction at this time," said Hawesville vice president and plant manager Matt Powell. "All parties have been working hard for a long time to create a mutually acceptable agreement.


We have consistently supported the transaction based upon the expectation that it would produce a power contract that would support Hawesville's long-term profitability. Current and expected economic conditions, however, have created the perfect-storm -- significant weakness in both aluminum prices and wholesale electric prices. The proposed contract might support Hawesville's viability over the long-term Adidas Ultra Boost 3.0 Limited Homme Noir Pas Cher , but the contract's take-or-pay requirement, in its current form, could create financial hardship for the company in the short-term. Regrettably, after discussions with WKE and Big Rivers over the past several weeks, we could not find a solution for mitigating the risk. We will continue to work diligently to secure a long-term power agreement that satisfies the needs of all western Kentucky constituents." At full capacity, the Hawesville smelter produces approximately 250 Adidas Ultra Boost 3.0 Homme Collegiate Marine Pas Cher ,000 tonnes of primary aluminum annually from five potlines. As a result of the global economic crisis and depressed aluminum prices, Century curtailed one potline in March 2009. The Hawesville smelter currently receives its electrical power from Kenergy Corp (a member of the Big Rivers system), under a power su. Wholesale Jerseys From China Wholesale College Jerseys China Wholesale Jerseys China Free Shipping Wholesale College Womens Jerseys Wholesale Soccer Jerseys China Wholesale NHL Jerseys From China Wholesale Authentic NBA Jerseys Wholesale MLB Womens Jerseys Wholesale NFL Youth Jerseys Wholesale Authentic Soccer Jerseys