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TheStreet Open House

Century Aluminum's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stock quotes in this article: CENX

I would now like to introduce Michael Bless, Century Aluminum’s President and Chief Executive Officer.

Michael Bless

Enrique, thanks very much and thanks to all of you for joining us this afternoon. Enrique and I are here today with Bill Leatherberry and Steve Schneider, our colleagues. We’ve let Shelly Harrison, our colleague who normally joins us on these calls, we've let her take this one off. Shelly is due to have her first baby here within the next couple days and we figured that wasn’t the kind of excitement we needed on this phone call. So Shelly is going to sit this one out. We wish her and her husband, John all the very best and we’re looking forward to having her back obviously after she takes a couple of months off. And with that, let's get started. If you could turn to slide three please.

As usual, I’ll give you some highlights of the quarter that just ended and I'll give you a sense of some of the things on which we’ve been working. First and importantly, Hawesville continued to show a significant improvement during the second quarter. Most importantly, the safety performance has been very good. I think it’s worthwhile to note that very soon we will cross an important metric. We will have gone 12 months at the plant, without a lost time accident. That’s obviously an admirable performance and something that we’re celebrating down at Hawesville.

The team at Hawesville under the leadership of Dave Whitmore and Sean Byrne have done a terrific job across the operations and we’re proud of them. They’re targeting further improvements in the quarters to come and one of the things that we’ll be working on significantly and about which I’ll talk here in a moment is the power situation at Hawesville. At this point in time to be blunt, the plant is not viable at the current power rate and we’re spending a lot of time and effort to fix that situation.

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