Applied Partners, Inc. completed the acquisition of substantially all assets of Century Aluminum of West Virginia, Inc. from Century Aluminum Company.

Applied Partners, Inc. entered into an agreement to acquire substantially all assets of Century Aluminum of West Virginia, Inc. from Century Aluminum Company (NasdaqGS:CENX) for $16 million on December 2, 2016. The purchase includes Century Aluminum of West Virginia’s Ravenswood aluminum smelter. Applied Partners will pay $15 million in cash plus certain other post-closing cash payments and assume certain liabilities related to the purchased assets. Applied Partners will pay an earnest fund of $1 million. Post-closing purchase price adjustment is an amount equal to the premium payment for an environmental pollution protection liability insurance policy as set out by Century Aluminum of West Virginia to Applied Partners or if seller does not secure a binding quote or decides not to pursue an environmental pollution protection liability policy, $0.8 million provided that Applied Partners’s obligation to pay the post-closing purchase price adjustment shall not exceed $1 million. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2017. CBRE acted as broker for Century Aluminum of West Virginia. Jones Lang LaSalle, Inc. acted as broker for Applied Partners. Neil Ganulin of Frost Brown Todd, LLC acted as legal advisor for Century Aluminum of West Virginia. Dave Flannery of Steptoe & Johnson PLLC acted as legal advisor for Applied Partners. Applied Partners, Inc. completed the acquisition of substantially all assets of Century Aluminum of West Virginia, Inc. from Century Aluminum Company (NasdaqGS:CENX) on January 26, 2017.