In a dedication ceremony held today in Iceland, Century Aluminum Company (NASDAQ: CENX) announced that Nordural ehf, a wholly owned subsidiary, has energized all of the pots of the current expansion project at its primary aluminum smelter at Grundartangi, Iceland. With this expansion, the company continues to anticipate that the plant will reach full rated capacity of 220,000 metric tonnes per year (mtpy) by year-end 2006. The Nordural plant, located near Reykjavík, previously operated at a rate of 90,000 mtpy.
"We have been very pleased with the Nordural expansion, which remained on schedule and budget," said Century president and chief executive officer Logan W. Kruger. "We look forward to continuing our successful partnership with the Icelandic power companies and local communities as we further expand Nordural to 260,000 mtpy by the fourth-quarter of 2007."
Century Aluminum Company, the parent of Century Aluminum of West Virginia, owns primary aluminum capacity in the United States and Iceland, as well as an ownership stake in alumina and bauxite assets in the United States and Jamaica. Century's corporate offices are located in Monterey, California.
This press release may contain "forward-looking statements" within the meaning of U.S. federal securities laws. The company has based its forward-looking statements on current expectations and projections about the future; however, these statements are subject to risks, uncertainties and assumptions, any of which could cause the company's actual results to differ materially from those expressed in its forward-looking statements. More information about these risks, uncertainties and assumptions can be found in the risk factors and forward-looking statements cautionary language contained in the company's Annual Report on Form 10-K and in other filings made with the Securities and Exchange Commission. The company does not undertake, and specifically disclaims, any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date such forward-looking statements are made.
Century Aluminum Company, Monterey, California