Kaiser Aluminum

Kaiser Aluminum
Public
Traded as NASDAQ: KALU
S&P 600 Component
Industry Aluminum
Founded 1946 in Washington state, U.S.
Headquarters Principal: Foothill Ranch, California
Operational: Spokane Valley, Washington
Key people
 Keith A. Harvey – President and C.O.O.
Products Rolled aluminum, milled aluminum
Revenue Decrease US$740 million[1]
Decrease US$ 70 million[1]
Number of employees
 2,000 (2005)
Website Official 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.[2] 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 currently owns 12 fabricating plants that can produce more than 400,000,000 pounds (180,000 long tons) of aluminum annually. The company also owns a 49 percent interest in an aluminum smelter in Wales. The North American plants produce approximately 500,000,000 pounds (220,000 long tons) per year of value-added sheet, plate, extrusions, forgings, rod, bar, and tube. Kaiser previously owned a subsidiary that developed real estate, including Rancho California, California.[3]

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

Kaiser Aluminum is headquartered in Foothill Ranch, California. In 2005, it recorded revenues of roughly US$1.1 billion and employed more than 2,000 people at eleven fabricating facilities throughout North America.

Kaiser Aluminum filed for bankruptcy in 2002 due to labor disputes, the West Coast energy crisis, and asbestos liabilities. It emerged from bankruptcy four years later.[4]

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.

References

  1. 1 2 "Kaiser Aluminum Corporation Reports Fourth Quarter and Full Year 2013 Financial Results". Retrieved February 18, 2014.
  2. ↑ 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.
  3. ↑ BROOKS, NANCY RIVERA (1986-07-12). "Kaiser Aluminum to Sell Bulk of Real Estate Assets". Los Angeles Times. ISSN 0458-3035. Retrieved 2017-04-12.
  4. ↑ Nicholas K. Geranios (July 6, 2006). "Kaiser Aluminum emerges from bankruptcy proceedings". The Seattle Times. Associated Press. Retrieved March 21, 2014.
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