Noranda profits fall 96.3% in qtr.

Apr 24, 2013 | 12:21 PM | Michael Cowden

Tags  Noranda, aluminum, Layle Smith, Kip Smith, earnings, London Metal Exchange, price, premiums electricity

CHICAGO — Noranda Aluminum Holding Corp.’s earnings plummeted in the first quarter amid lower aluminum prices on the London Metal Exchange, higher energy costs and lower sales

However, the Franklin, Tenn.-based aluminum producer remains optimistic about the rest of 2013 despite grappling with liquidity issues, the company said April 24 in commentary released with earnings data.
“We are evaluating and taking appropriate actions to manage our liquidity position and provide for prudent investment in long-term growth,” Noranda president and chief executive officer Layle K. (Kip) Smith said in a statement. ....





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