Century Aluminum plant may open again

 

 

On Thursday evening during a conference call with shareholders, Century CEO Michael Bless said conditions are favorable to restart the Ravenswood plant. Bless said an announcement on a date to restart could come as early as April.

 

 

Bless said discussions with union, state, utility and regulatory representatives and recent improvements in the aluminum market improve the outlook.

 

 

"They believe the conditions are right for the restart to happen, but there are still a lot of things to have to take place for them to be able to restart, said Mark Whitley, president of the Jackson County Development Authority.

 

 

Lindsey Berryhill, manager of corporate communications for Century Aluminum, said an announcement depends on a number of factors.

 

 

"The timing of a restart announcement is dependent on gaining an enabling energy contract, negotiating a competitive labor agreement and a reasonable expectation that aluminum prices are sufficient to provide for profitable operations," she said. "Century believes that enabling a restart of the Ravenswood smelter is in the best interest of all of our stakeholders."

 

 

Bless said reopening the plant is a top priority for 2012.

 

 

Century Aluminum closed the plant in 2009 and laid off more than 600 workers.

 

 

When the plant was shuttered, Century cited a declining aluminum market and increased operating costs. The company ended health care benefits for retirees in December 2010.

 

 

State officials have been working with the company to get the plant back up.

 

 

Bless says it would cost $70 million to restart the plant this year.

 

 

Whitley said the notion that Century is willing to invest $70 million is a good sign of the company's commitment to the Ravenswood plant.

 

 

"I think their plans are going to be long term," he said.

 

 

He said the company would be looking at upgrades to the facility, which has older and antiquated technology.

 

 

The Ravenswood plant, built in late 1957, has been described by company officials as an "historic" facility, but also the smallest and oldest facility in the company.

 

 

Whitley said new opportunities may present itself as part of the reopening.