KAISER ALUMINUM and Chemical Corporation confirmed yesterday that six parties have shown interest in purchasing its bauxite/alumina assets, including Kaiser Jamaica Bauxite Company (KJBC) and Alpart in Jamaica
In a message to its Jamaican employees yesterday, signed by vice-president US and Jamaica Bauxite/Alumina Operations, Eugene Miller, the company said that, as previously announced, it has explored the potential sale of some of its bauxite, alumina and smelter assets within its Global Commodities Business Unit.
"The first part of the process has been completed. This consisted of soliciting certain companies and groups as to their interest in purchasing some or all of these assets," the message said. It added that the parties had submitted initial bids.
But, Mr. Miller claimed that the process was exploratory and that no sale was imminent at this time.
Responding to the announcement, National Workers Union vice president Norman DaCosta said yesterday that although the development could raise fears about the local industry, the union wished to emphasise if a sale should materialise it could represent a positive step for the future of Alpart, KJBC and Jamaica.
He said that the union would carefully monitor the process.
Kaiser, which filed voluntary petitions under Chapter 11 of the United States' Federal Bankruptcy Code in February to reorganise its financial structure, owns 49 per cent of KJBC and 65 per cent of Alpart. The Gramercy plant is situated in the United States.
