Dallas, Texas 04/01/2014 (FINANCIALSTRENDS) – Noranda Aluminum Holding Corporation (NYSE:NOR) is at logger heads with electricity suppliers as it seeks lesser electric rates to sustain the employment of the nearly 888 people it employs at is smelter located in New Madrid.
Noranda Aluminum Holding Corporation(NYSE:NOR) has laid down the price bargains with Ameren Corp, which is based in St.Louis.
NOR argues that considering that this is one of the corners of the state which has seen some depressing economic conditions and its continued efforts at maintaining full employment requires co-operation from other stakeholders such as Ameren corp.
NOR has since been seeking rate cut from 4.1 cents on the kilowatt to 3 cents. However, given the balance of payment structures in Missouri, this price cut for the aluminium producer would result in higher prices for other customers using Ameren’s power, and is endorsed by regulatory requirements.
Noranda Aluminum Holding Corporation(NYSE:NOR) has reported market capital of $293.64 million. The Dividend to Yield ratio was pegged at 0.01 to 0.93. Besides the EPS is -0.70. The outstanding shares for the company were 68.13 million. Beta was 2.33.
NorandaAluminum Holding Corporation(NYSE:NOR) has 52 week trading high of $5.08 and low of $2.21. The Infra-day trading average if fixed between $4.40 and $4.11.
Integrated aluminium producer
Noranda Aluminium Holding offers complete end-to-end production of aluminium in the country. It has been a well-known producer of aluminium coils. It operates two divisions of business- upstream as well as downstream. It in its upstream business it operates across all the verticals, which include – alumina, bauxite as well as primary aluminium. In its downstream business the company offers products such as flat-rolled products and is also known to be a producer of aluminium rolled products.
Therefore the dispute between the two large employer and the supplier, has caught the attention of all – not just in the region but at the national level as well.