RECESSION WATCH: CLOSURE OF CENTURY ALUMINUM PENDING - Jackson Co. Plant Has 685 Regional Employees

(12/18/2008)

Century Aluminum told its 685 employees today it is shutting down one potline immediately and may shut down the entire plant within 60 days. The plant has a $34 million annual payroll. It is the third-largest employer in Jackson County, after Rio Tinto Alcan's rolling mill and the Board of Education. Century said at the end of 60 days, there could be massive layoffs at the Ravenswood site or complete closure by February 15th. The company cites the falling of aluminum prices on the world market. They say aluminum from China is flooding the market. Aluminum is now bringing 60 cents a pound. It costs a dollar a pound to produce. "This would devastate Jackson County and Ravenswood, Ripley, and surrounding areas," said Ravenswood Mayor Lucy Harbert. A significant number of workers commute from regional counties. By Friday the company will shut down one potline, forcing as many as 120 workers into other areas.

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