Noranda swings to loss on high power costs

Oct 30, 2013 | 01:33 PM | Michael Cowden

Tags  aluminum, Noranda Aluminum Holding Corp, Layle Smith, earnings report, London Metal Exchange, electricity costs, HVAC, finstock Michael Cowden

CHICAGO — Noranda Aluminum Holding Corp. swung to a loss in the third quarter on high electricity costs and low London Metal Exchange aluminum prices despite stable demand.

The Franklin, Tenn.-based aluminum producer said it is looking at "transformational initiatives" that it estimates will save $225 million from 2014 to 2016. The company sought to trim costs by $140 million with a similar program from 2011 to 2013.....

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