Wednesday, October 21, 2009
Acquisitions
Century Aluminum became publicly owned in March 1996. In 1998 they acquired cast plate Alcoa operations in Vernon, CA. In 1999, Century divested in its fabricating plants to redirect their product and marketing strategy. During and after 2000, Century focused on acquiring primary aluminum capacity, acquiring additional shares in the Mt. Holly, SC plant, 80-percent interest in their Hawesvill, KY operations...which later in 2003, the remaining 20-percent was acquired. In April 2004, the company diversified geographically by acquiring Nordural Aluminum...a primary aluminum plant in Iceland.
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Do you think that Century has been successful in its refocusing. Are its acquisitions value creating? Have you come across any that were "bad ideas"
ReplyDeleteYes, I think they have been successful in acquiring primary aluminum capacity with the acquisition of both the Hawesville and Iceland plants. This is evident by the fact the company is currently in the process of building another plant in Iceland and the fact Hawesville operations have only curtailed one of its pot lines vs. the entire operation in the West Virginia plant.
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