September 26, 2016 3:43 AM ET

Metals and Mining

Company Overview of Noranda Aluminum, Inc.

Company Overview

Noranda Aluminum, Inc. produces aluminum products and rolled aluminum coils. The company offers heavy gauge foil products, such as finstock and semi-rigid container stock; light gauge converter foils used for packaging applications; and consumer foils and light gauge sheet products, including transformer windings and building products. Its aluminum smelter includes a fabrication facility that converts molten aluminum into products, such as rods, extrusion billets, and foundry ingots. The company has rolling mills in Huntingdon, Tennessee; Salisbury, North Carolina; and Newport, Arkansas. It sells its products in the United States and Mexico. The company was founded in 1968 and is based in Ne...

St. Jude Industrial Park

P.O. Box 70

New Madrid, MO 63869

United States

Founded in 1968

Phone:

573-643-2361

Fax:

573-643-6715

Key Executives for Noranda Aluminum, Inc.

Chief Financial Officer
Age: 67
President of Primary Division and General Manager of Primary Division
Age: 67
President of Rolling Mills
Age: 52
Vice President of HR & Legal, Secretary and General Counsel
Age: 69
Compensation as of Fiscal Year 2016.

Noranda Aluminum, Inc. Key Developments

Motion for Asset Sale Approved for Noranda Aluminum, Inc.

The US Bankruptcy Court gave an order approving the sale of the certain assets of Noranda Aluminum, Inc. on August 17, 2016. The debtor has been authorized to sell its certain assets to Beagle Acquisition Corp., the stalking horse bidder for a purchase price of $309.70 million in cash plus assumption of certain liabilities. The debtor’s assets include substantially all of the assets of flat rolled products business owned and operated by Norandal USA, Inc. At the auction conducted, Beagle Acquisition emerged as the winning bidder with purchase price of $309.70 million in cash plus assumption of liabilities. Norandal USA, Inc. was selected as the back-up bidder.

Bidding Procedure Approved for Noranda Aluminum, Inc.

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of Noranda Aluminum, Inc. on July 20, 2016. The Court approved for the sale of certain assets via a public auction. The debtor’s assets include substantially all of the assets of primary aluminum production business operated by Noranda Aluminum, Inc., Noranda Bauxite Ltd. and Noranda Alumina LLC. To qualify as a qualified bidder, interested parties should submit their bids by September 15, 2016. The debtor may also enter into a purchase agreement with a Stalking Horse Bidder at any time before August 8, 2016. The initial minimum overbid should be at least $0.1 million more than the auction baseline bid; and in case of stalking horse bidder being selected, shall exceed the price by $0.1 million and bid protection amounts. The debtor has scheduled an auction on September 22, 2016. At the auction, the subsequent bids would be in increments of $0.1 million. A qualified bid shall be accompanied by a good faith deposit of 10% of the purchase price. The stalking horse bidder would be entitled to a break-up fee and expense reimbursement in case of termination of the asset purchase agreement. The sale hearing is scheduled for September 27, 2016.

Bidding Procedure Approved for Noranda Aluminum, Inc.

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of Noranda Aluminum, Inc. on June 23, 2016. The Court approved the asset purchase agreement between the debtor and Beagle Acquisition Corp., the stalking horse bidder, for the sale of its certain assets for a purchase price of $302.5 million pursuant to the asset purchase agreement dated June 13, 2016. The purchase price consists of $288 million in cash subject to adjustment to the extent working capital is less than or greater than $60 million. The debtor’s assets include substantially all of the assets of flat rolled products business owned and operated by Norandal USA, Inc. The buyer shall submit 1% of the cash consideration as indemnity Escrow amount and 2% of the cash consideration as specified Escrow amount. To qualify as a qualified bidder, interested parties should submit their bids by June 29, 2016. The initial minimum overbid should be at least $0.5 million more than the stalking horse bid. The debtor has scheduled an auction on July 7, 2016. At the auction, the subsequent bids would be in increments of $0.5 million. A qualified bid shall be accompanied by a good faith deposit of 10% of the purchase price. The sale hearing is scheduled for July 14, 2016. The transaction shall close no later than August 31, 2016. Justin R. Howard and Dennis J. Connolly of Alston & Bird LLP acted as legal advisor to the buyer.

Similar Private Companies By Industry

Company Name Region
101 Pipe & Casing, Inc. United States
2Dye4 Inc. United States
3 Dimensional Services, Inc. United States
3D Stone, Inc. United States
4-M Precision Stamping, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
Bankruptcy
February 8, 2016
--
 

The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content. For inquiries, please contact Capital IQ directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Noranda Aluminum, Inc., please visit www.norandaaluminum.com/noranda-aluminum.php. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.