Noranda to shut down final pot line at New Madrid plant
NEW MADRID, MO —
Noranda Aluminum Holding Corporation has announced it will be shutting down its remaining pot line at its aluminum smelter in New Madrid, Missouri.
In a release, the company said it would shut down the pot line in March 2016.
This is the last active pot line at the smelter. Two other pot lines were idled in January due to an electrical circuit failure.
Around 500 employees were laid off at the time. Noranda has not said if any employees will be laid off when the last pot line is idled.
All remaining operations at the plant will be curtailed, but the company says it is possible that the plant could resume operations in the future.
The company has also voluntarily filed for Chapter 11 bankruptcy.
Because Noranda has filed for bankruptcy voluntarily, the company will go through court-supervised restructuring.
Noranda says by doing so they will, "have additional time and financial flexibility to evaluate options for its various business operations."