Noranda Aluminum eyes exclusivity extension; ‘additional work remains’

By Caroline Salls

Pittsburgh, June 7 – Noranda Aluminum, Inc. is seeking an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the Eastern District of Missouri.

Noranda wants to extend its exclusive filing period to Oct. 5 from June 7 and the solicitation period to Dec. 5 from Aug. 8.

“While the debtors have made material progress during the first 120 days of these Chapter 11 cases, additional work remains,” the motion said.

Specifically, the company said it needs to conclude its downstream assets sale process before a “sensible Chapter 11 plan” can be filed.

In addition, Noranda said it is in negotiations with customer Sherwin Alumina Co., LLC regarding a long-term arrangement for the supply of bauxite to Sherwin.

A hearing is scheduled for July 14.

Noranda is a Franklin, Tenn., producer of primary aluminum and rolled aluminum coils. The company filed bankruptcy on Feb. 8 under Chapter 11 case number 16-10083.

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