Noranda Aluminum reported a smaller third-quarter loss this year than last, despite equipment failures at its facility in New Madrid. The failures caused production at the plant to drop 5 percent below normal volume, the company said.
The Franklin, Tenn., company reported a net loss of $3.9 million for its third quarter, compared with a loss of $18.2 million in the same quarter last year. The increase in revenues came due to a 10 cents-per-pound rise in aluminum prices.
Noranda, which is Ameren Missouri’s largest customer, has been pushing since February for lower electric rates from the St. Louis-based utility. The company said Ameren’s high rates would force it to lay off 125 employees at its New Madrid smelter. Noranda said it laid off 23 employees in September.