Century Aluminum Company - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Century Aluminum Company on May 9, 2006. The report discloses the entry into a material definitive agreement by Century Aluminum of West Virginia, Inc. (CWV), a wholly-owned subsidiary of Century Aluminum Company.
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures. The document focuses exclusively on the terms of a new supply agreement.
Material Changes and Agreements
- Agreement Type: Alumina Purchase Agreement.
- Counterparty: Glencore AG (a subsidiary of Glencore International AG).
- Volume: 330 metric tons of alumina per year.
- Pricing Mechanism: Negotiated annually based on the price for primary aluminum quoted on the London Metals Exchange.
- Term: Effective April 26, 2006, expiring December 31, 2009, unless sooner terminated or extended.
Guidance, Outlook, and Risks
The filing contains standard forward-looking statements cautioning that actual results may differ materially from expectations due to risks, uncertainties, and assumptions. Specific details regarding these risks are referenced in the Company's Annual Report on Form 10-K and other SEC filings. The Company disclaims any obligation to revise forward-looking statements.
Key Facts for Investor Verification
- Verify the full text of the Alumina Purchase Agreement filed as Exhibit 10.1 for detailed terms and conditions.
- Confirm the impact of the 330 metric ton annual supply on the subsidiary's production capacity and cost structure.
- Review the London Metals Exchange pricing trends to understand potential cost volatility under the annual negotiation clause.
- Check subsequent filings for any amendments, terminations, or extensions to the agreement prior to the December 31, 2009 expiration.