Bankrupt Aluminium Maker ZALCO Sold To Dutch, U.S. Firms
Parts of bankrupt Dutch aluminium producer ZALCO will be bought by a Dutch and a U.S. company, which will continue casting and anode production but smelting operations will cease, the Dutch buyer and an administrator said on Monday, Reuters reported. ZALCO, which had a production capacity of 275,000 tonnes per year of aluminium, filed for bankruptcy in mid-December. Its plant at the port of Vlissingen in the southwest of the Netherlands, which employed 600 people, was shut a few days later due to a lack of funds to pay energy suppliers. Dutch steel and machinery wholesaler UTB Industry bought the smelting operations and will dismantle the machinery because this business was not longer viable, UTB said in statement, without revealing financial details. UTB plans to resume production of finished or semi-finished products, while California-based Century Aluminum Co bought the anode production facilities, lawyer Peter Stassen said. He did not say how many jobs would be saved following the bankruptcy. Read more.