Century Completes Acquisition of Remaining 20% Share in Kentucky Plant.Business Editors MONTEREY Monterey (mŏntərā`), city (1990 pop. 31,954), Monterey co., W Calif., a port on Monterey Bay; founded 1770, inc. 1850. It is a popular resort, the home of many artists and writers, and one of California's oldest cities. , Calif.--(BUSINESS WIRE)--April 1, 2003 Century Aluminum Company (Nasdaq:CENX) has completed the purchase from Glencore Glencore International AG (formerly called Marc Rich & Co AG) is one of the world's largest suppliers of commodities and raw materials, and is also among the world's largest privately held companies. As of 2006, it was Europe's sixth-largest company in terms of turnover. International AG of the remaining 20 percent share in its Hawesville, KY aluminum reduction plant. Century reported signing a letter of intent for the acquisition on January January: see month. 3, 2003. Century financed the $105-million acquisition with approximately $65 million of available cash and a six-year note payable to Glencore. Century now owns 525,000 mtpy of primary aluminum capacity. It owns and operates two plants: the 170,000-mtpy plant at Ravenswood, WV and the 244,000-mtpy plant at Hawesville, KY. Century also owns a 49.67 percent interest in the 222,000-mtpy reduction plant at Mt. Holly, SC. Alcoa, Inc. owns the remainder and is the operating partner. Century's headquarters are in Monterey, CA. Century's press releases may contain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The company cautions that such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those expressed or implied in the forward-looking statements as a result of various factors. |
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