Alcoa wins bidding for Ormet carbon anodes

Jan 06, 2014 | 03:00 PM | Michael Cowden

Tags  Ormet, excess assets, carbon anodes, Alcoa, Aminco Resources, Bognar, Noranda, auction copper rods

CHICAGO — Alcoa Inc. has won an auction for carbon anodes from bankrupt aluminum producer Ormet Corp., agreeing to pay more than $11 million for 51,800 tonnes.

The Pittsburgh-based aluminum producer will pay $252 per tonne, or nearly $4.31 million, for 17,086 tonnes of baked carbon anodes in Hannibal, Ohio, where Ormet is based, and $194 per tonne, or more than $6.74 million, for 34,755 tonnes of anodes in Baltimore, according to documents filed in U.S. Bankruptcy Court in Delaware.....

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