MX Holdings and Century Aluminum Announce Their Intent to form a New Joint Venture, Focusing on the Casting of Low Carbon Secondary Billet
2024年3月13日 - 8:00PM
MX Holdings, a global leader in the purchasing, processing, and
manufacturing of non-ferrous metals, together with Century Aluminum
Company (NASDAQ: CENX) (“Century”), a global producer of primary
aluminum, have entered a Memorandum of Understanding to establish a
new joint venture focusing on the manufacture and marketing of
low-carbon secondary billet. This new organization will deliver
expertly engineered and technically advanced alloys, composed of
increasingly high levels of recycled content produced with
low-carbon processes.
“We are excited to embark on this endeavor with Century – a
partner whose business strategy and expertise complement our own
and whose team shares our values and people-centric culture. By
pairing our collective focus on customer service with a
state-of-the-art facility, cutting edge processes, and advanced
technical expertise, billet produced by the joint venture will not
only deliver exceptional quality and performance, but will enable
our customers to achieve their sustainability objectives more
effectively” says Matt Rohm, CEO of MX Holdings, parent company to
Metal Exchange and Pennex.
“In addition to the joint venture’s offering, we plan to
continue to produce billet at our existing, wholly owned Pennex
facilities. Each company will produce various alloys to meet
specific customer needs.”
Mr. Rohm added, “Most importantly, we're excited about the
opportunities this venture brings to make a positive impact for our
industry and our customers.”
Leadership teams at MX Holdings and Century are well-aligned,
“Century is pleased to be partnering with another American company
- MX Holdings - to establish a new entity serving the automotive
and general extrusion industries," said Matt Aboud, Century’s
Senior Vice President of Strategy and Business
Development.
"Expansion into scrap recycling has been a long-term strategic
focus for Century but finding the right partners and opportunities
are critical to the success of that strategy," continued Mr. Aboud.
"We believe MX Holding’s scrap knowledge and extrusion expertise
coupled with Century’s value-added-production capabilities are a
compelling combination. By leveraging the strengths of Century and
MX Holdings, we believe this joint venture can deliver a
differentiated value proposition to customers looking for next
generation extrusion products and offer an alternative source in
this fast-growing segment.
We expect to begin initial production in 2026, ultimately
scaling output to 250 million pounds per year. This new venture
will be the largest American-owned secondary billet supplier,
worldwide. The leadership team is currently considering several
locations for the facility in the Ohio Valley region.
About MX HoldingsCelebrating 50 years of
business in 2024, MX Holdings is a global leader in the purchasing,
processing, and manufacturing of aluminum. Enabled by their breadth
of experience and deep expertise, they deliver world class products
and services to customers across a family of brands – including
Metal Exchange and Pennex. MX Holdings corporate headquarters is in
St. Louis, MO, with 12 additional offices and manufacturing
facilities globally. Visit mxholdings.com for more information.
About Century Aluminum CompanyCentury Aluminum
Company owns and operates primary aluminum facilities in the United
States and Iceland. Century's corporate offices are located in
Chicago, IL. Visit www.centuryaluminum.com for more
information.
Cautionary Statement
This press release contains statements that relate to future
events and expectations and are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "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” often identify forward-looking
statements. All statements other than statements of historical fact
are forward-looking statements, including, without limitation,
statements regarding our assumptions, projections, forecasts, or
outlooks regarding future market trends and/or strategic projects
and efforts. These statements do not guarantee future performance
and speak only as of the date they are made, and we do not
undertake to update our forward-looking statements, whether as a
result of new information, future events, or otherwise.
Where we express an expectation or belief as to future events or
results, such expectation or belief is expressed in good faith and
is 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 Century Aluminum
Company’s Annual Report on Form 10-K, quarterly reports on Form
10-Q and in other filings made with the Securities and Exchange
Commission (“SEC”). Although we have attempted to identify 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 actual results or events to differ
from those anticipated, estimated or intended. Given these
uncertainties, investors are cautioned not to place undue reliance
on our forward-looking statements.
Contacts Ryan Crawford Century Aluminum -
Investors and Media 312-696-3132
Allison SchillerMX Holdings - Vice President, Marketing and
Communications 314-542-7226
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