Sherwin Alumina to cease operations at Gregory plant

According to the sources close to Sherwin Alumina, the company is contemplating closure of operations at its Gregory plant. The company had filed for Chapter 11 bankruptcy protection earlier this year and had undergone an auction that landed alumina refinery business in the hands of Glencore owned Corpus Christi Alumina (CCA).

Sherwin Alumina plans to sell the assets of CCA to address $95 million in debt. The transition to closure, hence, is an "orderly wind-down of operations," a strategy adopted by the company to pay off debts in the market.

The company has also been negotiating with labour unions for more than a year and a half now. Union spokespersons have stuck to their demand of a return to work.

Sherwin Alumina in its latest release issued on Monday pointed out that a recent bankruptcy filing by Noranda Alumina and the subsequent rejection of a contract to purchase bauxite from the Gregory plant has played a significant role in its decision to halt operations.

"We are extremely grateful to all of our hard-working, talented employees for over 60 years of dedicated service to Sherwin, and saddened at the way our company's story has to end. Throughout this period of uncertainty our employees have continued to impress, performing their jobs with professionalism. It is thanks to them that Sherwin was able to establish itself as an economic pillar of the Corpus Christi region for so many years," wrote Thomas Russell, President and Chief Executive Officer of Sherwin Alumina.

The alumina refinery in Gregory opened in 1953. It has been a hub for incoming bauxite ore and outgoing refined alumina, which is used as the prime raw material for aluminium smelting. Over the decades, the plant expanded significantly and was acquired by the multinational company Glencore in 2007.

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