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Kaiser Aluminum Lifts Force Majeure at Its Warrick Rolling Mill
Kaiser Aluminum Lifts Force Majeure at Its Warrick Rolling Mill
FRANKLIN, Tenn., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Kaiser Aluminum Corporation (NASDAQ:KALU) announced today that it has lifted force majeure declared on July 7, 2022 at its Warrick Rolling Mill ("Kaiser Warrick"), due to limited availability of magnesium utilized in the production of certain of its aluminum beverage and food packaging products, reducing its ability to produce those products at that time.
As the Company has previously disclosed, US Magnesium, LLC, ("US Mag"), Kaiser Warrick's largest supplier of magnesium, declared force majeure on September 29, 2021 and had continued to supply approximately 50% of its contractual commitment until June 2022, at which time deliveries abruptly stopped. US Mag is not currently supplying any magnesium to Kaiser Warrick and no further shipments of magnesium are expected through the December 31, 2022 expiration of its supplier agreement.
The Company has now successfully secured and qualified magnesium from alternative sources to meet its requirements for the remainder of 2022, and is currently finalizing its supplier agreements for 2023 and beyond. With security of supply and its capacity fully restored, Kaiser Warrick is currently working with its customers to return to full production.
Company Description
Kaiser Aluminum Corporation, headquartered in Franklin, Tenn., is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly engineered solutions for aerospace and high-strength, packaging, general engineering, custom automotive and other industrial applications. The Company's North American facilities produce value-added plate, sheet, coil, extrusions, rod, bar, tube and wire products, adhering to traditions of quality, innovation and service that have been key components of its culture since the Company was founded in 1946. The Company's stock is included in the Russell 2000® index and the S&P Small Cap 600® index.
Available Information
For more information, please visit the Company's web site at . The web site includes a section for investor relations under which the Company provides notifications of news or announcements regarding its financial performance, including Securities and Exchange Commission (SEC) filings, investor events, and earnings and other press releases. In addition, all Company filings submitted to the SEC are available through a link to the section of the SEC's web site at www.sec.gov which includes: Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and Proxy Statements for the Company's annual stockholders' meetings and other information statements as filed with the SEC. In addition, the Company provides a webcast of its quarterly earnings calls and certain events in which management participates or hosts with members of the investment community.
This press release contains statements which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to it at the time such statements are made. Kaiser Aluminum cautions that any forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. These factors include: (a) the effectiveness of management's strategies and decisions, including strategic investments, capital spending strategies processes and countermeasures implemented to address operational and supply chain challenges, and the execution of those strategies; (b) general economic and business conditions, including the impact of the global outbreak of Coronavirus Disease 2019 and governmental and other actions taken in response, cyclicality, reshoring, supply interruptions, including the most recent disruptions resulting from the supply demand imbalances in the magnesium and silicon markets, and other conditions that impact demand drivers in the aerospace/high strength, automotive, general engineering, packaging and other end markets the Company serves; (c) the length of the force majeure and the financial impact of the force majeure on the Company; (d) the impact of the Company's future earnings, cash flows, financial condition, capital requirements and other factors on its financial strength and flexibility; and (e) other risk factors summarized in the Company's reports filed with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended December 31, 2021. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
Investor Relations and Public Relations Contact:
Melinda C. Ellsworth
Kaiser Aluminum Corporation
(949) 614-1757
FRANKLIN, Tenn., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Kaiser Aluminum Corporation (NASDAQ:KALU) announced today that it has lifted force majeure declared on July 7, 2022 at its Warrick Rolling Mill ("Kaiser Warrick"), due to limited availability of magnesium utilized in the production of certain of its aluminum beverage and food packaging products, reducing its ability to produce those products at that time.
田纳西州富兰克林,9月2022年06日(环球通讯社)-凯撒铝业公司(纳斯达克:KALU)今天宣布,由于其某些铝饮料和食品包装产品生产中使用的镁有限,降低了当时生产这些产品的能力,该公司已解除2022年7月7日在其沃里克轧钢厂(“凯撒·沃里克”)宣布的不可抗力。
As the Company has previously disclosed, US Magnesium, LLC, ("US Mag"), Kaiser Warrick's largest supplier of magnesium, declared force majeure on September 29, 2021 and had continued to supply approximately 50% of its contractual commitment until June 2022, at which time deliveries abruptly stopped. US Mag is not currently supplying any magnesium to Kaiser Warrick and no further shipments of magnesium are expected through the December 31, 2022 expiration of its supplier agreement.
正如该公司此前披露的那样,凯撒·沃里克的最大镁供应商美国镁有限责任公司(US Magg)于2021年9月29日宣布发生不可抗力,并继续供应约50%的合同承诺,直到2022年6月,交货突然停止。US Mag目前没有向Kaiser Warrick供应任何镁,预计到2022年12月31日其供应商协议到期之前,不会有进一步的镁发货。
The Company has now successfully secured and qualified magnesium from alternative sources to meet its requirements for the remainder of 2022, and is currently finalizing its supplier agreements for 2023 and beyond. With security of supply and its capacity fully restored, Kaiser Warrick is currently working with its customers to return to full production.
该公司现已成功地从其他来源获得并获得合格的镁,以满足2022年剩余时间的需求,目前正在敲定2023年及以后的供应商协议。随着供应安全和产能完全恢复,Kaiser Warrick目前正在与客户合作,以恢复全面生产。
Company Description
Kaiser Aluminum Corporation, headquartered in Franklin, Tenn., is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly engineered solutions for aerospace and high-strength, packaging, general engineering, custom automotive and other industrial applications. The Company's North American facilities produce value-added plate, sheet, coil, extrusions, rod, bar, tube and wire products, adhering to traditions of quality, innovation and service that have been key components of its culture since the Company was founded in 1946. The Company's stock is included in the Russell 2000® index and the S&P Small Cap 600® index.
公司描述
凯撒铝业公司总部位于田纳西州富兰克林,是一家领先的半成品特种铝产品生产商,为世界各地的客户提供航空航天和高强度、包装、一般工程、定制汽车和其他工业应用的高度工程化解决方案。该公司在北美的工厂生产增值板材、板材、卷材、挤压件、棒材、棒材、管材和线材产品,秉承质量、创新和服务的传统,自1946年公司成立以来,这些传统一直是其文化的关键组成部分。该公司的股票被纳入罗素2000®指数和标准普尔小盘600®指数。
Available Information
For more information, please visit the Company's web site at . The web site includes a section for investor relations under which the Company provides notifications of news or announcements regarding its financial performance, including Securities and Exchange Commission (SEC) filings, investor events, and earnings and other press releases. In addition, all Company filings submitted to the SEC are available through a link to the section of the SEC's web site at www.sec.gov which includes: Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and Proxy Statements for the Company's annual stockholders' meetings and other information statements as filed with the SEC. In addition, the Company provides a webcast of its quarterly earnings calls and certain events in which management participates or hosts with members of the investment community.
可用信息
欲了解更多信息,请访问公司网站: .该网站包括一个投资者关系栏目,在该栏目下,该公司提供有关其财务业绩的新闻或公告的通知,包括美国证券交易委员会(美国证券交易委员会)的备案文件、投资者活动以及收益和其他新闻稿。此外,所有提交给美国证券交易委员会的公司文件都可以通过美国证券交易委员会网站www.sec.gov的链接获得,其中包括:Form 10-K年度报告、Form 10-Q季度报告、Form 8-K当前报告和公司年度股东大会的委托书以及提交给美国证券交易委员会的其他信息性声明。此外,该公司还提供季度收益电话会议的网络直播,以及管理层参与或与投资界成员一起主办的某些活动。
This press release contains statements which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to it at the time such statements are made. Kaiser Aluminum cautions that any forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. These factors include: (a) the effectiveness of management's strategies and decisions, including strategic investments, capital spending strategies processes and countermeasures implemented to address operational and supply chain challenges, and the execution of those strategies; (b) general economic and business conditions, including the impact of the global outbreak of Coronavirus Disease 2019 and governmental and other actions taken in response, cyclicality, reshoring, supply interruptions, including the most recent disruptions resulting from the supply demand imbalances in the magnesium and silicon markets, and other conditions that impact demand drivers in the aerospace/high strength, automotive, general engineering, packaging and other end markets the Company serves; (c) the length of the force majeure and the financial impact of the force majeure on the Company; (d) the impact of the Company's future earnings, cash flows, financial condition, capital requirements and other factors on its financial strength and flexibility; and (e) other risk factors summarized in the Company's reports filed with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended December 31, 2021. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
本新闻稿包含符合1995年“私人证券诉讼改革法”含义的“前瞻性陈述”。这些陈述是以管理层的信念和假设为基础的,这些信念和假设是基于作出这些陈述时所掌握的信息作出的。凯撒铝业公司提醒,任何前瞻性陈述都不是对未来业绩的保证,涉及重大风险和不确定因素,由于各种因素,实际结果可能与前瞻性陈述中的结果大不相同。这些因素包括:(A)管理层战略和决策的有效性,包括为应对业务和供应链挑战而实施的战略投资、资本支出战略进程和对策,以及这些战略的执行情况;(B)一般经济和商业情况,包括2019年全球冠状病毒病爆发的影响和政府采取的应对行动、周期性、回流、供应中断,包括最近镁和硅市场供应需求失衡造成的中断,以及影响公司服务的航空航天/高强度、汽车、一般工程、包装和其他终端市场需求驱动因素的其他条件;(C)不可抗力的持续时间和不可抗力对公司的财务影响;(D)公司未来收益、现金流、财务状况、资本要求和其他因素对其财务实力和灵活性的影响;及。(E)公司在提交给美国证券交易委员会的报告中概述的其他风险因素,包括公司截至12月31日的年度10-K报表。, 2021年。公司没有义务更新任何前瞻性陈述,以使陈述与实际结果或公司预期的变化保持一致。
Investor Relations and Public Relations Contact:
Melinda C. Ellsworth
Kaiser Aluminum Corporation
(949) 614-1757
投资者关系和公共关系联系人:
梅琳达·C·埃尔斯沃斯
凯撒铝业公司
(949) 614-1757
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
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在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
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