Center-right election win in Iceland may help Century Aluminum

Apr 30, 2013 | 09:30 AM | Michael Cowden

Tags  Century Aluminum, Michael Bless, Helguvik, Grundartangi, Iceland elections, smelter, power negotiations, aluminum Michael Cowden

CHICAGO — The parliamentary elections in Iceland may work to the advantage of Century Aluminum Co., according to both the company and analysts.

The center-right Independence and Progressive parties, which were in power when Iceland’s economy collapsed in 2008, beat the ruling coalition of Social Democrats and Left Green parties in the April 27 vote, according to media reports.

The victory of "pro-business parties" improved the prospects of the Monterey, Calif.-based aluminum producer’s greenfield aluminum reduction project in Helguvik, Iceland, Davenport & Co. LLC analysts Lloyd T. O’Carroll and John F. Ockerman said in a note to investors.....

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