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Ormet sale of alumina approved

Keywords: Tags  Ormet, alumina, Trafigura, Chapter 11, bankruptcy, aluminum, alumina, Michael Cowden

CHICAGO — Ormet Corp. has received bankruptcy court approval to sell about 24,000 tonnes of sandy calcined metallurgical-grade alumina to Trafigura AG for nearly $6 million.

The bankrupt Hannibal, Ohio-based aluminum producer has agreed to sell the material for $249 per tonne to the Lucerne, Switzerland-based trading house, according to documents filed April 1 in U.S. Bankruptcy Court in Delaware.

Ormet, which filed for Chapter 11 bankruptcy protection last year (, Feb. 26, 2013), is selling what it considers to be excess assets (, Oct. 16), including copper rod, anodes and alumina.

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