International firm New Day Aluminum has emerged as the successful bidder for the Jamaican assets of US-based producer Noranda Aluminum.
New Day edged out ARG International, which recently bought Noranda's aluminum smelter in southeastern Missouri in the US. New Day had a final offer which was above that of Stockholm-based ARG.
Earlier this year, Noranda's parent company announced actions to reduce costs in its integrated aluminium business which comprises its operations in Jamaica, an alumina refinery in Louisiana and its primary aluminium smelter in Missouri.
These actions were attributed to, among other things, continued low aluminium prices.
Meanwhile, the sale of Noranda's assets is causing jitters for workers at its Jamaican operations.
The Union of Technical, Administrative and Supervisory Personnel (UTASP) says some of the workers are concerned about the company's outstanding financial obligations to them.
Noranda has 1,000 workers in Jamaica.
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