Century Aluminum may close South Carolina plant

CHICAGO - Century Aluminum of South Carolina, a wholly-owned subsidiary of Chicago-based Century Aluminum Co., Wednesday said it may be forced to close its plant because of the high cost of electricity.

The company issued a notice to its 295 employees at its Mt. Holly aluminum smelter of its intent to curtail operations by Dec. 31 if the smelter is unable to secure a competitively priced power arrangement to deliver energy to the plant.

While the company's plants in Kentucky pay for competitive, market-based power, Mt. Holly is effectively being required to pay a significantly above-market power price for the state, said Michael Bless, Century Aluminum president and chief executive officer.

"Mt. Holly is the newest, most efficient and, except for its power costs, the lowest cost aluminum smelter in the United States, with a dedicated and highly skilled workforce and a reputation for quality production as assessed by a world class customer base," he said, adding that the plant could ramp up to 600 employees if competitive electrical costs are secured.