New Day Aluminum Holdings LLC has entered into a $75 million, 5 year term loan facility with White Oak Global Advisors, LLC and a $35 million asset based loan facility with BMO Harris Bank. A portion of the proceeds from the refinancing will be used to complete two major expansion projects at New Day’s Noranda Alumina refinery in Gramercy, Louisiana.
In the second half of 2018, New Day will commission a second chemical grade alumina production line, including an additional filter and second dryer. The new line increased the company’s chemical grade alumina production capacity by nearly 100 percent, making Noranda Alumina the leading supplier of chemical grade alumina in the U.S.
Noranda Alumina is already the largest manufacturer of smelter grade alumina in the U.S. The second capital project in Gramercy, which centers around the installation of red mud filtration technology, will significantly expand the company’s capacity for red mud storage and reduce the company’s annual raw material input costs at the Gramercy facility. These two projects, totaling more than $40 million, will increase productive capacity and significantly reduce Noranda Alumina’s carbon footprint.
Published in the October 2018 Edition
