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Kaiser Aluminum

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BUSINESS
August 15, 2006 | From Reuters
Kaiser Aluminum Corp., which just emerged from bankruptcy protection after more than four years, said Monday that costs from its reorganization contributed to a second-quarter loss. The Foothill Ranch-based aluminum manufacturer said its loss totaled $2.5 million, or 3 cents a share, compared with a profit of $365.8 million, or $4.59, a year ago. The year-ago profit was boosted by $366 million in divestment proceeds. Revenue in the quarter ended June 30 rose 35% to $353.
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BUSINESS
May 9, 2008 | From Times Wire Services
Kaiser Aluminum Corp. said its first-quarter profit more than doubled, but its stock fell more than 10% after the company forecast lower production than anticipated this year. "We are not market-constrained, we are production-constrained this year," Chairman and Chief Executive Jack Hockema said. He said there was a short, unplanned outage at a light-gauge furnace during the first quarter. In addition, a planned four-month shutdown for maintenance at another furnace in Spokane, Wash.
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BUSINESS
April 29, 1987
Shareholders, by a margin of more than 9 to 1, approved an agreement with British investor Alan E. Clore, Kaiser Aluminum's largest shareholder, under which Kaiser Aluminum will become a subsidiary of a new holding company called KaiserTech Limited. Clore, who will be chairman of KaiserTech, will invest $140 million in the company.
BUSINESS
August 15, 2006 | From Reuters
Kaiser Aluminum Corp., which just emerged from bankruptcy protection after more than four years, said Monday that costs from its reorganization contributed to a second-quarter loss. The Foothill Ranch-based aluminum manufacturer said its loss totaled $2.5 million, or 3 cents a share, compared with a profit of $365.8 million, or $4.59, a year ago. The year-ago profit was boosted by $366 million in divestment proceeds. Revenue in the quarter ended June 30 rose 35% to $353.
BUSINESS
January 31, 1985
Kaiser Aluminum & Chemical's real estate unit, Kaiser Development, said the partner will help expand development at its sprawling, 29,000-acre Rancho California project in southern Riverside County. The unit has hired Brooks Harvey & Co., an affiliate of Morgan Stanley & Co., to find the partner. "We've got boom town conditions down there," a spokesman said, adding that most new development will consist of housing projects.
BUSINESS
September 27, 1985
The Oakland-based company said the investment group, led by J. A. Frates of Tulsa, Okla., doesn't have "anything at all to offer Kaiser Aluminum shareholders." The group, which controls about 5.65% of Kaiser's shares, said it was dissatisfied with the slowness of Kaiser's restructuring. Kaiser's response reaffirmed its plan and called the proposals completely unsolicited, unwelcome and without substance. The company also said that the group lacks the financial resources to execute its plans.
BUSINESS
August 2, 1985
The Oakland-based company, a longtime supplier to the car maker, said it would supply a significant portion of General Motors' 117-million-pound requirement for fabricated aluminum products for the 1986 model year. It would not disclose, however, its portion of the total or the monetary value of the agreement.
BUSINESS
May 9, 2008 | From Times Wire Services
Kaiser Aluminum Corp. said its first-quarter profit more than doubled, but its stock fell more than 10% after the company forecast lower production than anticipated this year. "We are not market-constrained, we are production-constrained this year," Chairman and Chief Executive Jack Hockema said. He said there was a short, unplanned outage at a light-gauge furnace during the first quarter. In addition, a planned four-month shutdown for maintenance at another furnace in Spokane, Wash.
BUSINESS
December 16, 1986
As part of a definitive agreement between Kaiser Aluminum and British investor Alan Clore to restructure the Oakland company, Oklahoma investor Joseph A. Frates and his associates agreed to sell their interest in Clore's investment entity. Kaiser's board will be expanded to 14 members, including six present members.
BUSINESS
October 9, 1986
The investor group, led by Oklahoma investor Joseph A. Frates, increased its holdings in Kaiser Aluminum stock to 12.3 million shares, or about 27.53% of the company. The group, which tried to take over Kaiser earlier this year, previously had a 26.4% interest. A spokesman for the group said the investors are interested in buying more stock, based on the price and the group's availability of funds.
BUSINESS
February 7, 2006 | From Bloomberg News
Kaiser Aluminum Corp. said Monday that a bankruptcy judge approved the company's plan to end four years of Chapter 11 protection this quarter. The exit plan now requires approval from a U.S. District Court judge, Kaiser said. Under the plan approved by Bankruptcy Judge Judith Fitzgerald in Wilmington, Del., Kaiser plans to cancel its stock and swap debt for equity. "The finish line is within sight," Chief Executive Jack Hockema said in a statement. Foothill Ranch-based Kaiser posted a $746.
BUSINESS
March 4, 1996 | From Times Staff and Wire Reports
Kaiser Aluminum Corp. has ended its effort to buy Alumax Inc. for between $2.2 billion and $2.5 billion, withdrawing a hostile bid that Alumax rejected last month before adopting a "poison pill" plan to deter the takeover. The move over the weekend marks the second time in a month that a hostile bidder in a major industry has been driven off by the threat of a protracted takeover battle. On Feb. 2, El Segundo-based Mattel Inc. withdrew a $5.2-billion offer for rival Hasbro Inc.
BUSINESS
February 23, 1996 | From Times Wire Services
Kaiser Aluminum Corp. on Thursday made public its bid for competitor Alumax Inc., in a deal valued at between $2.2 billion and $2.5 billion that would create the world's third-largest aluminum producer. Alumax earlier this month rejected the merger proposal from Houston-based Kaiser, which is controlled by Maxxam Inc., but it has indicated that it would consider a richer offer. There was no immediate response Thursday from Norcross, Ga.-based Alumax.
BUSINESS
November 29, 1995
Fluor Corp.'s Fluor Daniel unit said Tuesday that it has received a contract to provide engineering, procurement and construction services for Kaiser Aluminum & Chemical Corp.'s first commercial micromill, which will produce beverage can sheet. Engineering is underway for the $45-million micromill, which will be in Storey County, Nev., and construction is scheduled to begin next month. Upon completion in late 1996, the micromill will produce about 45,000 metric tons of can sheet a year.
BUSINESS
December 6, 1985
The Securities and Exchange filing disclosed that a group that includes Oklahoma investor J. A. Frates and British investor Alan E. Clore will seek control of the Oakland-based company. "We don't intend to permit Mr. Frates or Mr. Clore to . . . grab Kaiser Aluminum & Chemical Corp.'s considerable values for their own personal benefit," the Oakland-based company said in a statement.
BUSINESS
February 7, 1987
Kaiser Aluminum & Chemical said Friday that it has "reached an understanding" with Hoogovens Groep BV, a large Dutch steel and aluminum company, for the sale of Kaiser's aluminum subsidiary in Europe. Terms of the possible sale of Kaiser Aluminium Europe were not disclosed, but the transaction would be a profitable one for Kaiser Aluminum & Chemical, a spokesman for the Oakland-based company said. Proceeds will be used to reduce debt and for other corporate purposes, he said.
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