New Day Aluminum Closes Purchase of Noranda Upstream Assets in Louisiana and Jamaica
Fort Lauderdale, Florida – October 28, 2016 – DADA Holdings LLC today announced that its
affiliate, New Day Aluminum LLC, has closed the sale on Noranda Aluminum Holding
Corporation’s upstream aluminum business which consists of an alumina manufacturing facility
in Gramercy, Louisiana and bauxite mining operations in St. Ann, Jamaica. After a competitive
auction last week, New Day was selected as the winning bidder at a purchase price of $24.4
The bauxite mines in Jamaica are capable of mining 5.2 million metric tons of bauxite ore per
year. The Jamaican operations has a workforce of approximately 800 people, half of those are
direct employees and the other half are contract employees. The alumina refinery in Gramercy
produces both smelter grade and chemical grade alumina. It has a capacity of 1.2 million metric
tons of alumina per year, and greater than 400 full-time employees.
After winning the auction, New Day was subsequently required to obtain Cabinet approval from
the Government of Jamaica to transfer mining leases from Noranda to New Day which was
received earlier this week.
David D'Addario, Chief Executive Officer of DADA and New Day Aluminum, said, "Our team is
incredibly excited about completing the acquisition of these assets. We believe we can bring
the years of experience we have in the aluminum industry to revitalize these businesses and
benefit all of the constituencies to whom we are responsible."
DADA is a management company consisting of the former senior management team of Wise
Metals Group LLC, which was sold to Constellium N.V. in January, 2015.