Noranda Aluminum seeks to sell Missouri smelter

Bankrupt aluminium producer Noranda is seeking bankruptcy court approval to sell off its so-called upstream business, including its now shuttered smelter in New Madrid, Missouri.

Tennessee-based Noranda Aluminum Holding Corp. said Monday it had filed a request in bankruptcy court for approval for bidding procedures to sell "all, or substantially all" the assets of its primary aluminium business. In addition to the smelter in southeast Missouri, that business includes a bauxite mine in St. Ann, Jamaica, and a refinery in Gramercy, Louisiana.

The company said it expects its motion to be heard July 14 by the bankruptcy court. Under its proposed bidding procedures, the deadline for submitting qualified bids is Sept. 15, with an auction set for Sept. 22, if there are multiple bids submitted. A hearing to approve the sale would take place Sept. 27, officials said.

Separately, Noranda said a subsidiary of Granges AB has agreed to serve as a "stalking horse" bidder in a court-supervised sale process for its flat-rolled products business. The agreement values the business at $302.5 million.

Noranda filed for Chapter 11 bankruptcy protection in February, saying challenging market conditions in the aluminium industry and disruptions in its main business operations led to the decision to file.

Noranda was Ameren Missouri's largest customer before the aluminium company idled its smelter in New Madrid in March.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.