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Kaiser Aluminum Lifts Force Majeure At Warrick Rolling Mill

RTTNews | 987 dias atrás

Kaiser Aluminum Lifts Force Majeure At Warrick Rolling Mill

(RTTNews) - Kaiser Aluminum Corp. (KALU) announced Tuesday that it has lifted force majeure declared on July 7, 2022 at its Warrick Rolling Mill, due to limited availability of magnesium utilized in the production of certain of its aluminum beverage and food packaging products, reducing its ability to produce those products at that time.

As the Company has previously disclosed, US Magnesium, LLC, Kaiser Warrick's largest supplier of magnesium, declared force majeure on September 29, 2021 and had continued to supply approximately 50% of its contractual commitment until June 2022, at which time deliveries abruptly stopped.

US Mag is not currently supplying any magnesium to Kaiser Warrick and no further shipments of magnesium are expected through the December 31, 2022 expiration of its supplier agreement.

The Company has now successfully secured and qualified magnesium from alternative sources to meet its requirements for the remainder of 2022, and is currently finalizing its supplier agreements for 2023 and beyond.

With security of supply and its capacity fully restored, Kaiser Warrick is currently working with its customers to return to full production.

Marcadores : KALU KLUCQ.OB

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