Noranda Aluminum Holding Corp. says it has received bankruptcy court approval to sell its New Madrid aluminum smelter and related facilities to ARG International.
The purchase price is $13.7 million, Noranda said.
Noranda filed for Chapter 11 bankruptcy protection in St. Louis in February and idled its 900-employee smelter in the Missouri Bootheel the next month, the casualty of plunging commodity prices and a series of accidents that affected production levels.
In June, the company said it planned to sell off its businesses, including the smelter, which had by far been Ameren Missouri’s largest customer.
Read more: St. Louis Post-Dispatch