Noranda Aluminum to Build Rod Mill
Noranda Aluminum Holding Corp. obtained $15 million of project-specific financing that will allow it to complete a state-of-the-art redraw rod mill at its aluminum smelter in New Madrid, Mo. The new facility, which is expected to cost approximately $55 million, will increase Noranda’s production capacity by about 43% and will include the latest technology available in the North American marketplace. The company has already received interest from customers for a majority of the new rod mill’s capacity. Production is expected to begin during the second quarter of 2016.