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Century Aluminum Announces Power Contract Extension for its Grundartangi, Iceland smelter
CHICAGO, July 19, 2021 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX), announced today its wholly-owned subsidiary, Norðurál Grundartangi ehf,
About this update from Century Aluminum Company
[{"type":"text","content":"CHICAGO, July 19, 2021 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX), announced today its wholly-owned subsidiary, Norðurál Grundartangi ehf, has successfully reached an agreement with Landsvirkjun, the National Power Company in Iceland, to extend its existing 161 MW power contract by three years through 2026. The extension will increase the contract to 182 MW over time to provide the necessary flexibility to support the most recent capacity creep requirements and future growth opportunities for value-added products at the plant. Jesse Gary, Century’s President and Chief Executive Officer, said, “We are pleased to reach this agreement with Landsvirkjun. I would like to personally thank Hörður Arnarson, Chief Executive Officer of Landsvirkjun, and his team for their hard work on reaching this agreement and for Landsvirkjun’s continued partnership towards supporting the long-term future of this key Icelandic industry. This extension will address Grundartangi’s increasing power needs due to the recent capacity creep as well as provide flexibility to pursue future growth at this world-class smelter.” About Century Aluminum Company Century Aluminum Company owns primary aluminum capacity 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 and statements made by Century Aluminum Company management on the quarterly conference call contain \"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: the terms and conditions of such new power contract for Grundartangi; Grundartangi’s future operations and grow...