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2016 News Releases

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10/21/16Noranda Obtains Court Approval to Sell Alumina Refinery in Gramercy, Louisiana and Bauxite Mining Operation in St. Ann, Jamaica to DADA Holdings LLC
(GLOBE NEWSWIRE via COMTEX) --Franklin, Tennessee - October 21, 2016 - Noranda Aluminum Holding Corporation (OTC: NORNQ) ("Noranda" or the "Company") today announced Court approval for the sale of the Company's alumina refinery in Gramercy, Louisiana and bauxite mining operation in St. Ann, Jamaica. Following a competitive auction, New Day Aluminum LLC, an affiliate of DADA Holdings LLC, was selected as the winning bidder for the Company's alumina refinery and bauxite mining operation, with a pu... 
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10/07/16Noranda Reaches Global Settlement with Lenders and Unsecured Creditors Committee, Enters Into Agreement with "Stalking Horse Bidder" for Remaining Upstream Business
(GLOBE NEWSWIRE via COMTEX) --Franklin, Tennessee - October 7, 2016 - Noranda Aluminum Holding Corporation (OTC: NORNQ) ("Noranda" or the "Company") today announced it has entered into a global settlement agreement with its secured lenders and the Unsecured Creditors Committee that governs the handling of Noranda's remaining obligations and assets, including the net proceeds from the Company's asset sales. The global settlement agreement remains subject to court approval at a hearing scheduled f... 
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09/30/16Noranda Obtains Court Approval to Sell Aluminum Smelter and Facilities in New Madrid, Missouri to ARG International AG
(GLOBE NEWSWIRE via COMTEX) --Franklin, Tennessee - September 30, 2016 - Noranda Aluminum Holding Corporation (OTC: NORNQ) ("Noranda" or the "Company") today announced Court approval for the sale of the Company's aluminum smelter and facilities in New Madrid, Missouri, to ARG International AG for a purchase price of $13.7 million. The Court approval follows an auction that took place on September 28, 2016. The Company expects to close the transaction in October 2016, subject to certain closing c... 
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08/17/16Noranda Obtains Court Approval to Sell Downstream Assets to Gränges AB, Enters Into Agreement in Principle with Lenders and Unsecured Creditors Committee to Facilitate Restructuring Process Resolution
(GLOBE NEWSWIRE via COMTEX) --Franklin, Tennessee - August 17, 2016 - Noranda Aluminum Holding Corporation (OTC: NORNQ) ("Noranda" or the "Company") today announced that it has obtained Court approval for the sale of its Downstream Business to Gränges AB ("Gränges") for an enterprise value of $324.2 million (USD) on a cash and debt-free basis. The Company expects to close the transaction on or about August 22, 2016, subject to certain closing conditions. Until the transaction closes, the Downstr... 
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06/13/16Noranda Enters Into Agreement With Gränges AB To Serve As "Stalking Horse Bidder" For Flat-Rolled Business, Files Bidding Procedures in Connection with Sale Process of Upstream Business
(GLOBE NEWSWIRE via COMTEX) --This is a correction of the announcement from 18:29 13.06.2016 EDT. Reason for the correction: Company name presented incorrectly in headline Franklin, Tennessee - June 13, 2016 - Noranda Aluminum Holding Corporation (OTC: NORNQ) ("Noranda" or the "Company") today announced that it has entered into an asset purchase agreement with Gränges AB, under which a subsidiary of Gränges will serve as the "stalking horse" bidder for Noranda's Flat-Rolled Products business ... 
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03/11/16Noranda Receives Final Court Approval to Access Debtor-In-Possession Financing
Franklin, Tennessee - March 11, 2016 - Noranda Aluminum Holding Corporation (OTC: NORNQ) ("Noranda" or the "Company") today announced that the United States Bankruptcy Court for the Eastern District of Missouri has entered a final order granting the Company authority to access up to $165 million in debtor-in-possession (DIP) financing. With this order, all of the Company's first-day motions, including one seeking authorization to continue to pay employee wages, salaries and h... 
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02/09/16Noranda Receives Court Approval of "First Day" Motions to Support Business Operations; Obtains Interim Court Approval for up to $165 Million in New Debtor-In-Possession Financing
Franklin, Tennessee - February 9, 2016 - Noranda Aluminum Holding Corporation (OTC: NORN) ("Noranda" or the "Company") today announced that the Company has received approval from the United States Bankruptcy Court for the Eastern District of Missouri for its First Day motions related to its Chapter 11 restructuring. Collectively, the First Day orders issued by the Court on either an interim or final basis will help Noranda continue to operate its business in the ordinary cour... 
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02/08/16Noranda Updates Presentations Page of Website to Include Certain Information Disclosed to DIP Financing Lenders
Franklin, Tennessee - February 8, 2016 - Noranda Aluminum Holding Corporation (OTC: NORN) ("Noranda" or the "Company") has posted to its website certain information disclosed to DIP Financing Lenders in connection with its court-supervised restructuring process under Chapter 11. That information is available at the company's website www.norandaaluminum.com, on the "Presentations" page under the "Investor Relations" tab. HUG#1984253... 
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02/08/16NORANDA INITIATES CHAPTER 11 PROCESS TO REPOSITION BUSINESS OPERATIONS; EXPECTS TO RECEIVE UP TO $165 MILLION IN NEW FINANCING TO ENHANCE LIQUIDITY
Franklin, Tennessee - February 8, 2016 - Noranda Aluminum Holding Corporation (OTC: NORN) ("Noranda" or the "Company") today announced that Noranda and all of its wholly owned direct and indirect subsidiaries have filed voluntary petitions for a court-supervised restructuring process under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Missouri ("the Court"). Noranda has taken this action to have additional t... 
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01/13/16Noranda Announces Steps to Reduce Costs and Address Business Challenges in its Upstream Business
·         25% Reduction of Upstream Workforce ·         Potential Curtailment of Operations at Aluminum Smelter and Alumina Refinery ·         Potential Curtailment at Aluminum Smelter Not Expected to Impact Flat-Rolled Products Business ·         Force Majeure Notice to Government of Jamaica Related to Bauxite Production Franklin, Tennessee - January 13, 2016 - Noranda Aluminum Holding Corporation (OTC: NORN) ("Noranda" or the "Company") today announced actions principally ... 
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01/08/16NORANDA ISSUES STATEMENT REGARDING ITS NEW MADRID ALUMINUM SMELTER
Franklin, Tennessee - January 8, 2016 - Noranda Aluminum Holding Corporation (OTC: NORN) ("Noranda" or the "Company") today announced that production has been idled at two of the three pot lines at its aluminum smelter in New Madrid, Missouri, following an electrical supply circuit failure. The electrical supply circuit failure occurred shortly before 1:00 p.m. Central Time on January 7, 2016 and no serious injuries were reported. Noranda is assessing the incident to determi... 
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