Kaiser Aluminum receives no bids for QAL interest

New York, Aug. 11 - Kaiser Aluminum said it received no qualified bids for its 20% interest in the QAL alumina refinery in Australia.

The deadline was Tuesday.

As a result the auction scheduled for Aug. 16 will not proceed.

The Houston aluminum company said its is "reviewing additional options" for the potential sale of the stake.

Under procedures approved by the U.S. Bankruptcy Court for the District of Delaware, bids were to start at $525 million and go up in increments of $2 million.

Kaiser filed for bankruptcy on Feb. 12, 2002. The company's Chapter 11 case number is 02-10429.

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