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Century Aluminum : Hosts Ribbon Cutting Ceremony with South Carolina Governor Henry McMaster and U.S. House Majority Whip James E. Clyburn

06/03/2021 EDT

CHICAGO, June 3, 2021 /PRNewswire/ -- Century Aluminum Company (NASDAQ: CENX) America's largest primary aluminum producer, today hosted a ribbon cutting ceremony to celebrate the planned 50% production capacity increase at its Mount Holly, South Carolina smelter, alongside a more than $60 million capital investment. The ribbon cutting ceremony also highlighted the creation of an additional 100 new aluminum jobs, bringing the total number of employees to over 400 at the Mt. Holly, SC smelter.

Today's ceremonial restart includes remarks by South Carolina Governor Henry McMaster, U.S. House Majority Whip James E. Clyburn, Santee Cooper CEO Mark Bonsall, Century CEO Mike Bless and Incoming Century CEO Jesse Gary.

'Thanks to the Section 232 program and the leadership of Governor McMaster, Majority Whip Clyburn, and Secretary Hitt, Century Aluminum is proud to be increasing production capacity at Mt. Holly by 50%. Century's more than $60 million investment and the creation of 100 good paying aluminum jobs in South Carolina, further demonstrates our commitment to rebuilding America's primary aluminum industry.' - Incoming CEO and President of Century Aluminum Jesse Gary

'Century Aluminum's Mt. Holly plant has long served as a unique economic driver for Berkeley County and their success is a win for South Carolina. I congratulate Century Aluminum and all who have worked so hard to make this day a reality.' - South Carolina Governor Henry McMaster.

'Let me congratulate the leadership and all the teamworkers at Century on this great relaunch… About a hundred of the employees there live in the sixth congressional district that I am proud to represent.' With a message of unity, U.S. House Majority Whip Clyburn added: 'South Carolina is one state, this is one country, and all of us ought to work to become one people.' - U.S. House Majority Whip James E. Clyburn (SC-06)

'Companies like Century Aluminum continue to help strengthen our state's manufacturing sector. The company's decision to expand in South Carolina shows that our state's advantageous economic environment and talented workforce not only attract business, but also help them grow.' - South Carolina Secretary of Commerce Bobby Hitt

Century's Mt. Holly smelter is the newest and most efficient smelter in the United States. The Mt. Holly smelter produces aluminum that is a critical component for many sectors of the economy, including automotive, electrical, construction and aerospace industries as well as our military. The aluminum produced at Mt. Holly is a key input for renewable energy components that are essential to a low-carbon future in the United States.

About Century Aluminum Company

Century Aluminum Company is the largest primary aluminum producer in the United States, with three operating aluminum smelters in Kentucky and South Carolina. For more information: www.centuryaluminum.com.

Cautionary Statement

This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words 'believe,' 'expect,' 'hope,' 'target,' 'anticipate,' 'intend,' 'plan,' 'seek,' 'estimate,' 'potential,' 'project,' 'scheduled,' 'forecast' or words of similar meaning, or future or conditional verbs such as 'will,' 'would,' 'should,' 'could,' 'might,' or 'may.' Our forward-looking statements include, without limitation, statements with respect to: our assessment of global and local financial and economic conditions; our assessment of the aluminum market and aluminum prices (including premiums); our assessment of alumina pricing and costs associated with our other key raw materials, including power; our plans and expectations with regards to future operations of our Mt. Holly smelter, including our expectations as to the restart of curtailed production at Mt. Holly, including the timing, costs and benefits associated with this restart project; our ability to hire and retain qualified employees; the future financial and operating performance of Century, its subsidiaries and its projects; our future business objectives, plans, strategies and initiatives, including our competitive position and prospects.

Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K, quarterly reports on Form 10-Q and in other filings made with the Securities and Exchange Commission. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, investors are cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

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SOURCE Century Aluminum Company


Century Aluminum Company published this content on 03 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2021 15:08:01 UTC.

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Financials (USD)
Sales 2021 2 229 M - -
Net income 2021 7,50 M - -
Net Debt 2021 - - -
P/E ratio 2021 -163x
Yield 2021 -
Capitalization 1 175 M 1 175 M -
Capi. / Sales 2021 0,53x
Capi. / Sales 2022 0,48x
Nbr of Employees 2 078
Free-Float 51,8%
Duration : Period :
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Technical analysis trends CENTURY ALUMINUM COMPANY
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Income Statement Evolution
Mean consensus HOLD
Number of Analysts 2
Last Close Price 13,04 $
Average target price 17,50 $
Spread / Average Target 34,2%
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Managers and Directors
Michael A. Bless President, Chief Executive Officer & Director
Craig C. Conti Chief Financial Officer & Executive Vice President
Andrew Gordon Michelmore Non-Executive Chairman
Jesse E. Gary Chief Operating Officer
Jarl Berntzen Independent Director