Advertisement

Noranda Aluminum Holding Chapter 11 Petition Filed

Advertisement

According to the U.S. Bankruptcy Court docket, Noranda Aluminum Holding and nine of its wholly owned direct and indirect subsidiaries filed for Chapter 11 protection in the Eastern District of Missouri.

Kip Smith, Noranda Aluminum Holding’s president and chief executive officer, comments, “In light of the challenging market conditions for the aluminum industry and the recent disruptions in our primary business operations, the Board and management team, with the support of our principal lenders, determined that undertaking this court-supervised process is in the best interests of Noranda and its stakeholders. We believe this court-supervised process will provide us with time and financial flexibility to evaluate options to enhance the sustainability of our major business operations.”

The Company, which produces primary aluminum and high-quality rolled aluminum coils, is represented by Christopher J. Lawhorn of Carmody MacDonald. In conjunction with the filing, Noranda Aluminum Holding has entered into an agreement in principle with its existing ABL lenders for up to $130 million in debtor-in-possession financing and has received a commitment for up to $35 million in incremental D.I.P. financing provided by certain existing term loan lenders.

Noranda Aluminum Holding’s board appointed Alvarez & Marsal’s Robert M. Caruso as chief restructuring officer.

The list below details the largest publicly traded bankruptcy filings within the Steel and Metal industry by filing date.

Historic Steel and Metal Industry Filings

Company Name Bankruptcy
Date
Description Assets*
Noranda Aluminum Holding Corp. 02/08/16 Produces & Sells Aluminum $1,318
Horsehead Holding Corp. 02/02/16 Produces Zinc & Nickel-Based Products 974
Colt Defense LLC 06/14/15 Manufactures Firearms 265
Ormet Corporation 02/25/13 Aluminum Producer 436
Wolverine Tube, Inc. 11/01/10 Copper Alloy, Fabricated Products & Metal 237
Neenah Enterprises, Inc. 02/03/10 Ductile Iron Castings & Forged Components 287
Atrium Companies, Inc. 01/20/10 Manufactures Window & Door Products 347
Barzel Industries Inc. 09/15/09 Produces & Manufactures Metal 477
RathGibson, Inc. 07/13/09 Mfgs. Steel & Alloy Products 330
Dayton Superior Corporation 04/19/09 Mfgs. Metal Accessories & Forms 300
Indalex Holdings Finance, Inc. 03/20/09 Aluminum Extruder 439
Aleris International, Inc. 02/12/09 Produces Aluminum Products 5,121
Terra Nostra Resources Corp. 12/17/08 Operates in the Steel & Copper Industries 180
AMTROL Inc. 12/18/06 Manufactures Pressure Control Products 222
Global Power Equipment Group Inc. 09/28/06 Manufactures Equipment for Power Plants 381
Werner Holding Co. (DE), Inc. 06/12/06 Manufactures Aluminum Products 201
Russell-Stanley Holdings, Inc. 08/19/05 Plastic & Steel Industrial Containers 134
ASARCO LLC 08/09/05 Copper Mining 1,108
WHX Corporation 03/07/05 Metal Manufacturing Company 205
Oxford Automotive, Inc. 12/07/04 Designs Engineered Metal Components 889
Amcast Industrial Corporation 11/30/04 Technology Intensive Metal Products 230
Intermet Corporation 09/29/04 Producers of Ductile Castings 687
Haynes International, Inc. 03/29/04 Alloy Processing 235
International Wire Group Inc. 03/24/04 Manufactures & Markets Wire Products 364
Keystone Consolidated Industries, Inc. 02/26/04 Manufactures Fabricated Steel Products 367
Ormet Corporation 01/30/04 Aluminum Producer 382
Rouge Industries, Inc. 10/23/03 Steel Works, Blast Furnaces & Rolling Mills 652
Republic Engineered Products LLC 10/06/03 Steel Works, Blast Furnaces & Rolling Mills 474
WCI Steel, Inc. 09/16/03 Steel Works, Blast Furnaces & Rolling Mills 392
Neenah Foundry Company 08/05/03 Metal Castings and Forgings 582
Atchison Casting Corporation 08/04/03 Iron & Steel Foundries 269
Chart Industries, Inc. 07/08/03 Fabricated Plate Work (Boiler Shops) 279
Weirton Steel Corp. 05/19/03 Steel Producer 696
Superior Telecom, Inc. 03/03/03 Telecommunications 571
Bayou Steel Corp. 01/22/03 Steel Producer 177
Geneva Steel Holdings Corp. 09/13/02 Steel Producer 484

* Pre-petition assets in $ millions

Read more Noranda bankruptcy news.