Century Aluminum To Reduce Output At Hawesville Smelter

SYDNEY, Mar 03, 2009 (Dow Jones Commodities News via Comtex) -- U.S.-based aluminum producer Century Aluminum Co. (CENX) said Wednesday it will cut one potline at its Hawesville, Kentucky smelter, cutting output by about 4,370 metric tons per month. The reduction in output will result in about 120 workers being layed off. The smelter produces about 250,000 tons of primary aluminum annually from five potlines. "Since July of last year, aluminum prices have experienced an unprecedented decline of more than 55%. Conserving cash now is necessary for long term sustainability - the shutdown is a short term action to get us through this economic crisis," said Hawesville vice president and plant manager Matt Powell. Century Aluminum has already shut down its Ravenswood smelter with a capacity of 170,000 tons. Century Aluminum owns primary aluminum capacity in the U.S. and Iceland, as well as an interest in alumina and bauxite assets in the U.S. and Jamaica. Collectively, global aluminum companies have cut or are planning to cut a total production capacity of 6.424 million tons.