Kaiser Aluminum

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Kaiser Aluminum
FormerlyKaiser Aluminum and Chemical Company
TypePublic
Nasdaq: KALU
S&P 600 Component
IndustryAluminum
Founded1946 in Washington state, U.S.
HeadquartersPrincipal: Foothill Ranch, California
Operational: Spokane Valley, Washington
Key people
Keith A. Harvey –  President and Chief Executive Officer
ProductsRolled aluminum, plate, sheet, can sheet, and extruded products.
RevenueDecrease US$1.173 billion (2020) [1]
Decrease US$ 29 million (2020) [2]
Total assets$1.865 billion (2020) [3]
Number of employees
3,700 (2021) [4] [5]
SubsidiariesAnglesey Aluminium, Imperial Machine & Tool, Kaiser Warrick, LLC
WebsiteOfficial website Edit this at Wikidata

Kaiser Aluminum is an American aluminum producer. It is a spinoff from Kaiser Aluminum and Chemicals Corporation, which came to be when common stock was offered in Permanente Metals Corporation and Permanente Metals Corporation's name was changed to Kaiser Aluminum and Chemicals Corporation.[6]

History[]

A former Kaiser Aluminum plant (1972) next to the Huey Long Bridge in Baton Rouge, Louisiana

Founded in 1946, Henry J. Kaiser's corporation entered the aluminum business by leasing, then purchasing three government-owned aluminum facilities in Washington state. These were the primary reduction plants at Mead and Tacoma, and the rolling mill at Trentwood. The company grew to be a vertically integrated aluminum producer.

Kaiser Aluminum previously owned a subsidiary that developed real estate, including in Rancho California, California; Oregon, Washington, and Arizona.[7] In 1986, Kaiser Aluminum sold the bulk of the $450 million dollar real estate holdings to an investor group led by Peter B. Bedford.[7]

In 1988, Charles Hurwitz and his company Maxxam, Inc. purchased KaiserTech Ltd, the Oakland-based parent of Kaiser Aluminum and Chemical Company.[8] Kaiser Aluminum filed for bankruptcy in 2002, due to labor disputes, the West Coast energy crisis, and asbestos liabilities. The steel workers union was suspicious of Hurwitz on the collapse of the Kaiser Aluminum Corporation and closely watched his 1995 FDIC lawsuit because Hurwitz has a history of loss-plagued businesses.[9]

The company emerged from bankruptcy four years later.[10] In March 2006, Kaiser Aluminum determined to restate its financial statements for the quarters ended March 31, 2005; June 30, 2005; and September 30, 2005, to adjust its VEBA-related payments and derivative financial instrument transactions.

The company previously owned a stake in Anglesey Aluminium, a joint venture with Rio Tinto Group. The smelter at this facility was closed in 2009, and the entire facility was fully closed in 2013. [11]

In April of 2021, Kaiser Aluminum completed acquisition of Alcoa Warrick, LLC, renaming it Kaiser Warrick, LLC. Kaiser entered into a long term ground lease with Alcoa; Alcoa retains its on site four unit coal fired generating station, smelting assets, and land assets with the remainder of the facility to be operated by Kaiser. Presently, Kaiser Aluminum Warrick operates a cast house, hot mill, cold mills, finishing mills/coating lines, and slitter lines, producing flat rolled aluminum sheet for the food and beverage container market.[12]

About[]

Kaiser Aluminum is headquartered in Foothill Ranch, California. In 2020, it recorded revenues of roughly US$1.173 billion. Kaiser currently owns 13 fabricating plants that can produce more than 400,000,000 pounds (180,000 long tons) of aluminum annually.[when?] The North American plants produce approximately 500,000,000 pounds (220,000 long tons) per year of value-added sheet, can sheet, plate, extrusions, forgings, rod, bar, and tube.

With the acquisition of the former Alcoa Warrick, LLC (now Kaiser Warrick, LLC), Kaiser Aluminum now employs approximately 3,700 persons.

References[]

  1. ^ https://www.macrotrends.net/stocks/charts/KALU/kaiser-aluminum/revenue
  2. ^ https://www.macrotrends.net/stocks/charts/KALU/kaiser-aluminum/net-income
  3. ^ https://www.macrotrends.net/stocks/charts/KALU/kaiser-aluminum/total-assets
  4. ^ https://www.macrotrends.net/stocks/charts/KALU/kaiser-aluminum/number-of-employees
  5. ^ https://investors.kaiseraluminum.com/news-releases/news-release-details/kaiser-aluminum-corporation-completes-purchase-alcoa-warrick-llc
  6. ^ Kaiser Industries Corporation, Oakland, California (1968). "The Postwar Gamble". The Kaiser Story (PDF). p. 39. Archived from the original (PDF) on June 16, 2015. Retrieved March 24, 2016.CS1 maint: multiple names: authors list (link)
  7. ^ Jump up to: a b Brooks, Nancy Rivera (July 12, 1986). "Kaiser Aluminum to Sell Bulk of Real Estate Assets". Los Angeles Times. ISSN 0458-3035. Retrieved April 12, 2017.
  8. ^ Delugach, Al (May 30, 1988). "Charles Hurwitz--Publicity-Shy Empire Builder : Kaiser Aluminum's Bidder Is a Private Person but Controversy Follows Him". Los Angeles Times. Retrieved April 17, 2021.
  9. ^ Stucke, John (August 25, 2005). "Judge Orders FDIC To Pay Hurwitz". Newspapers.com. The Spokesman-Review. p. 8. Retrieved April 17, 2021.
  10. ^ Nicholas K. Geranios (July 6, 2006). "Kaiser Aluminum emerges from bankruptcy proceedings". The Seattle Times. Associated Press. Retrieved March 21, 2014.
  11. ^ https://www.bbc.com/news/uk-wales-north-west-wales-21544789
  12. ^ https://investors.kaiseraluminum.com/news-releases/news-release-details/kaiser-aluminum-corporation-completes-purchase-alcoa-warrick-llc

External links[]

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