other material
confidence high
sentiment negative
materiality 0.70
Century Aluminum to idle Hawesville smelter for 9-12 months due to tripled energy costs
CENTURY ALUMINUM CO
- Idling process begins June 27, 2022; expects restart when energy prices normalize in ~9-12 months.
- Hawesville is the largest U.S. Century smelter and largest North American producer of military-grade aluminum.
- Over 600 employees receive WARN Act notice of temporary layoff; company to assist with unemployment and training.
- Energy costs have more than tripled historical average, driven by Russian war in Ukraine; no other plants affected.
- CEO Jesse Gary cites unprecedented energy price rise as cause for the temporary curtailment.