Metals and Mining
Company Overview of Noranda Aluminum Acquisition Corporation
Noranda Aluminum Acquisition Corporation manufactures and sells aluminum products and rolled aluminum coils in in the United States. The company mines and produces bauxite for alumina production; and refines and converts bauxite into alumina, which is the raw material used in the production of aluminum products. It also produces aluminum products in various forms, including billets, rods, sows, and foundries, as well as commodity grade sows; and rolled aluminum products, such as finstock and container stock. The company was founded in 2007 and is based in Franklin, Tennessee. Noranda Aluminum Acquisition Corporation is a subsidiary of Noranda Aluminum Holding Corporation. On February 8, 2016...
801 Crescent Centre Drive
Franklin, TN 37067
Founded in 2007
Key Executives for Noranda Aluminum Acquisition Corporation
Vice President of Legal and Human Resources
Compensation as of Fiscal Year 2016.
Noranda Aluminum Acquisition Corporation Key Developments
Motion for Asset Sale Approved for Noranda Aluminum, Inc.
Oct 21 16
The US Bankruptcy Court approved the sale of certain assets of Noranda Aluminum, Inc. on October 21, 2016. As per the order, debtor has been authorized to sell Gramercy assets and St. Ann assets to New Day Aluminum LLC, stalking-horse bidder for $24.43 million, as per the amended agreement dated October 19, 2016. ARG International AG has been designated as back-up bidder with a purchase price of $24 million.
Notice of Successful Bidder Filed by Noranda Aluminum, Inc.
Oct 20 16
Noranda Aluminum, Inc. filed a notice of successful bidder with respect to the auction of the Gramercy assets and St. Ann assets on October 20, 2016. As per the auction result, New Day Aluminum LLC, stalking-horse bidder is selected as successful bidder for a purchase consideration of $24.43 million. ARG International AG has been designated as back-up bidder with a purchase price of $24 million.
Bid Agreement Approved for Noranda Aluminum, Inc.
Oct 19 16
The US Bankruptcy Court gave an order approving the stalking bid agreement relating to the sale of certain assets of Noranda Aluminum, Inc. on October 19, 2016. As per the order, debtor has been authorized to sell certain assets to New Day Aluminum LLC as per the agreement dated October 7, 2016. The assets include aluminum refinery located in Gramercy, Louisiana and bauxite mining assets and interests located in Jamaica. Buyer will pay purchase consideration in the form of secured note of $21.50 million and assumption of liabilities. Buyer has paid good-faith deposit of $2.15 million upon execution of the agreement. The Court has also approved bid protection, comprising break-up fee of $0.65 million and expense reimbursement of $1 million. Bruce A. Toth of Winston & Strawn LLP acted as legal counsel for the buyer.
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