Century Aluminum Commends President Biden’s Action to Maintain Section 232 Tariffs on the United Arab Emirates

CHICAGO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today commended President Biden’s action to maintain the Section 232 aluminum tariffs on the United Arab Emirates (UAE). President Biden revoked the implementation of a last-minute proclamation issued by the Trump Administration that would have essentially exempted the UAE from 232 relief. This announcement will ensure that aluminum imports from the UAE will not harm the U.S. aluminum industry and threaten our nation’s security interests.

“We commend President Biden’s decisive action to maintain tariffs on aluminum imports from the UAE as part of the Section 232 program. The Biden Administration is clearly committed to rebuilding domestic manufacturing and protecting thousands of American aluminum jobs,” said Michael Bless, President and CEO of Century Aluminum. “President Biden’s proclamation will keep the playing field level for America’s primary aluminum industry and our great American workers.”

Century Aluminum is the largest producer of primary aluminum in the United States.

“This action is an important step towards maintaining this essential US supply chain capability and for keeping our diverse workforce employed in family-supporting jobs,” Mr. Bless continued. “On behalf of our employees and the communities they represent, I want to thank President Biden and his team for their continued support of the Section 232 program as we work together to Build Back Better.”

About Century Aluminum

Century Aluminum Company is the largest primary aluminum producer in the United States, with three operating aluminum smelters in Kentucky and South Carolina. For more information: www.centuryaluminum.com.

Cautionary Statement

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words "believe," "expect," "hope," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," "project," "scheduled," "forecast" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," "might," or "may." Our forward-looking statements include, without limitation, statements with respect to: the future impact of the presidential proclamation, revocation or other changes to the Section 232 program to Century or the aluminum industry in general; the future operation of our smelters, including plans to restart curtailed production and any costs, benefits or actions associated therewith; future investment in the Hawesville or Mt. Holly restarts and our other operations, including future investments in new technology or other production improvements; our assessment of the aluminum market and aluminum prices (including premiums); the future financial and operating performance of Century, its subsidiaries and its projects; future earnings, operating results and liquidity; our future business objectives, strategies and initiatives.

Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K, quarterly reports on Form 10-Q and in other filings made with the Securities and Exchange Commission. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, investors are cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact

Investors and Media:
Peter Trpkovski
312-696-3132