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Century Aluminum Announces Agreement to Acquire Sebree, KY Smelter

Century Aluminum Announces Agreement to Acquire Sebree, KY Smelter 
MONTEREY, CA -- (Marketwired) -- 04/29/13 --  Century Aluminum
Company (NASDAQ: CENX) announced today that its wholly owned
subsidiary has entered into a definitive agreement to acquire
substantially all of the assets of the Sebree aluminum smelter from a
subsidiary of Rio Tinto Alcan, Inc. Sebree, located in Henderson
County, Kentucky, employs over 500 men and women and has an annual
production capacity of 205,000 metric tons of primary aluminum.  
"We are well acquainted with the Sebree smelter and its excellent
management team and talented group of employees," commented Michael
Bless, President and CEO. "We believe that, with these facilities
under common ownership, we will derive real benefits in better
serving customers and through improving both operations with the
sharing of best practices in safety, technical and operational
practices and procedures. My colleagues and I are anxious to welcome
Sebree's men and women into the Century group of companies." 
"We believe Sebree, like Hawesville, is globally competitive in every
area other than the cost of power," continued Mr. Bless. "Maintaining
operations at these plants, and the thousands of direct and indirect
jobs they provide and support, is critical for the entire western
Kentucky community. Gaining access to competitive energy is a crucial
for the continued viability of these plants, and we hope that the
tentative agreement we have reached for Hawesville will be the first
step towards obtaining market priced power." 
Pursuant to the terms of the agreement, Century will acquire the
smelter for $61 million in cash (after $4 million in purchase price
deductions) and will receive $71 million in working capital, subject
to customary adjustments. As part of the transaction, RTA will retain
all historical environmental liabilities of the Sebree smelter and
has agreed to fully fund the pension plan being assumed by Century's
subsidiary at closing.  
The transaction is subject to certain closing conditions, including
the consent of Kenergy Corp. to the assignment of the smelter's
existing power contract, which will terminate on January 31, 2014.  
Century Aluminum Company owns primary aluminum capacity in the United
States and Iceland. Century's corporate offices are located in
Monterey, Calif. More information can be found at
www.centuryaluminum.com. 
Cautionary Statement  
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements about future, not past,
events and involve certain important risks and uncertainties, any of
which could cause our actual results to differ materially from those
expressed in our forward-looking statements. Such risks and
uncertainties may include, without limitation, further declines in
aluminum prices or increases in our operating costs; worsening of
global financial and economic conditions; our ability to successfully
obtain long-term competitive power arrangements for the Hawesville
and Sebree plants; and our ability to obtain the necessary consents
and satisfy the necessary conditions to complete the acquisition of
the Sebree plant. Forward-looking statements in this press release
include statements regarding our ability to complete the acquisition
of the Sebree plant, derive benefits from the common ownership of the
Sebree and Hawesville plants and obtain competitive power contracts
for the Hawesville and Sebree plants. More information about these
risks, uncertainties and assumptions can be found in the risk factors
and forward-looking statements cautionary language contained in our
Annual Report on Form 10-K and in other filings made with the
Securities and Exchange Commission. We do not undertake, and
specifically disclaim, any obligation to revise any forward-looking
statements to reflect the occurrence of future events or
circumstances. 
Certified Advisors for the First North market of the OMX Nordic
Exchange Iceland hf. for Global Depositary Receipts in Iceland:  
Atli B. Gudmundsson, Senior Manager -- Corporate Finance,
Landsbankinn hf.
 Steingrimur Helgason, Director -- Corporate
Finance, Landsbankinn hf. 
Century Aluminum Contacts: 
Clair Nichols (media)
502-649-8956 
Shelly Harrison (investors)
831-642-9357 
 
 
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