A filing with the U.S. Securities and Exchange Commission confirms that Century Aluminum has completed the sale of its Ravenswood smelter to Applied Partners Inc. for about $15 million. Both the companies signed a sale agreement on Dec. 2 and all the official formalities were completed on Friday.
Applied Partners, a firm based in Delaware, would house one of its own subsidiaries on the site and make rest of the lots available for other companies. Allied Partners is a leading development company that specializes in buying idle commodity assets and preparing them for physical reuse and economic renewal in future.
Earlier, applied Partners President Mark Cenit praised property and the surrounding locality of West Virginia and appreciated the cooperation his company has received from local and state officials.
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The existing Century aluminium plant was closed down permanently in 2009 because of the recession in the international aluminium market. The facility will be brought down to make way for new productive use, Cenit said.
Applied Plasma, one of Applied Partners’ own subsidiaries that specializes in remediation, will move to West Virginia and will be headquartered at the Century Aluminum property. The site will be opened for acquisition by local companies for setting up various industries.
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