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Noranda optimistic despite profits falling 96.3% in Q1

April 25, 2013 - 12:35 GMT Location: Chicago

KEYWORDS: Noranda , Layle Smith , Kip Smith , London Metal Exchange , aluminium price

Noranda Aluminum Holding Corp’s earnings plummeted in the first quarter amid lower aluminium prices on the London Metal Exchange, higher energy costs and lower sales.

However, the Franklin, Tennessee-based aluminium producer remains optimistic about the rest of 2013 despite grappling with liquidity issues, the company said on Wednesday April 24 in an earnings statement. "We are evaluating and taking appropriate actions to manage our liquidity position and provide for prudent investment in long-term growth," Noranda president and ceo Layle K...

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