MX Holdings and Century to Form a New Low-Carbon Aluminum Billet Joint Venture – Light Metal Age Magazine

March 14, 2024 | by magnews24.com

MX Holdings, the parent company of Metal Exchange Corp. and Pennex, signed an MOU with Century Aluminum Company, a global primary aluminum producer with facilities in the U.S. and Iceland, to establish a new joint venture focusing on the manufacture and marketing of low-carbon recycled secondary aluminum billet.

“We are excited to embark on this endeavor with Century — a partner whose business strategy and expertise complement our own and whose team shares our values and people-centric culture,” said Matt Rohm, CEO of MX Holdings. “By pairing our collective focus on customer service with a state-of-the-art facility, cutting edge processes, and advanced technical expertise, billet produced by the joint venture will not only deliver exceptional quality and performance, but will enable our customers to achieve their sustainability objectives more effectively.”

This new organization will deliver up to 250 million lbs of aluminum billet per year in expertly engineered and technically advanced alloys, composed of increasingly high levels of recycled content produced with low-carbon processes. The two companies aim for the venture to become the largest American-owned secondary billet supplier worldwide.

The formation of this joint venture represents Century Aluminum’s first entry into secondary aluminum manufacturing. The company noted that is pleased to join with another American company in order to create a new remelt and recycling operation that will be able to serve the automotive and general extrusion industries.

“Expansion into scrap recycling has been a long-term strategic focus for Century but finding the right partners and opportunities are critical to the success of that strategy,” stated Matt Aboud, senior vice president of Strategy and Business Development at Century Aluminum. “We believe MX Holding’s scrap knowledge and extrusion expertise coupled with Century’s value-added-production capabilities are a compelling combination. By leveraging the strengths of Century and MX Holdings, we believe this joint venture can deliver a differentiated value proposition to customers looking for next generation extrusion products and offer an alternative source in this fast-growing segment.”

The leadership team for the venture is currently considering several locations for the facility in the Ohio Valley region. The new secondary aluminum joint venture is expected to begin its initial production in 2026.

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