Noranda to auction off New Madrid plant - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Noranda to auction off New Madrid plant

(Source: KFVS) (Source: KFVS)
NEW MADRID COUNTY, MO (KFVS) -

Noranda Aluminum Holding Corporation has announced it is auctioning off the plant in New Madrid.

The company has filed a motion to set up rules to sell its Upstream Business.

According to a release from the company, it has entered into an asset purchase agreement with Gränges AB. As part of that agreement, a subsidiary of Gränges will serve as the "stalking horse" bidder for Noranda's Flat-Rolled Products business.

The agreement values that portion of the business at $302.5 million, on a debt-free, cash-free basis.

As we reported in February, Noranda filed for bankruptcy.

The company hopes the sale will become final on September 27, 2016.

Download the KFVS News app: iPhone | Android

Copyright 2016 KFVS. All rights reserved.

  • Heartland NewsMore>>

  • Chester boy headed to national Rubik's Cube competition

    Chester boy headed to national Rubik's Cube competition

    Thursday, June 21 2018 11:20 PM EDT2018-06-22 03:20:25 GMT
    Lucas Thompson prepares for nationals. (Source: Taylor Clark, KFVS)Lucas Thompson prepares for nationals. (Source: Taylor Clark, KFVS)
    Lucas Thompson prepares for nationals. (Source: Taylor Clark, KFVS)Lucas Thompson prepares for nationals. (Source: Taylor Clark, KFVS)

    Lucas Thompson is a 12 year old from Chester and an absolute machine when it comes to solving a Rubik's Cube.

    Lucas Thompson is a 12 year old from Chester and an absolute machine when it comes to solving a Rubik's Cube.

  • Anna, IL chruch host group to discuss heroin abuse

    Anna, IL chruch host group to discuss heroin abuse

    Thursday, June 21 2018 11:12 PM EDT2018-06-22 03:12:03 GMT
    Connect Point Church host heroin abuse event. (Source: Chris Drury, KFVS)Connect Point Church host heroin abuse event. (Source: Chris Drury, KFVS)
    Connect Point Church host heroin abuse event. (Source: Chris Drury, KFVS)Connect Point Church host heroin abuse event. (Source: Chris Drury, KFVS)

    Connect Point Chruch hosted “A Night of Hope” in Anna, Illinois. "crush the epidemic" came to talk about heroin addiction.

    Connect Point Chruch hosted “A Night of Hope” in Anna, Illinois. "crush the epidemic" came to talk about heroin addiction.

  • First Alert: Strong Storms move across the Heartland

    First Alert: Strong Storms move across the Heartland

    Thursday, June 21 2018 10:17 PM EDT2018-06-22 02:17:41 GMT
    A Tornado Warning had issued for Cape Girardeau  (Source: Don Frazier, KFVS)A Tornado Warning had issued for Cape Girardeau (Source: Don Frazier, KFVS)

    Strong storms will move through the Heartland throughout the day on Thursday, June 21.

    Strong storms will move through the Heartland throughout the day on Thursday, June 21.

Powered by Frankly