Aldel cites costly energy prices as key for filing.
The Dutch company Aldel filed for bankruptcy protection on Dec. 30, 2013. In filing for protection Aldel says that it has been struggling with the high cost of power needed to operate its aluminum smelting operations. In its filing, the company noted the significant spread that exists between the power costs in the Netherlands, where Aldel’s smelter is located, and surrounding countries.
The decision to file for protection follows the company working with a number of groups and organizations, including the country’s Minister of Economic Affairs; the Province of Groningen, where the smelter is located; the Works Council; unions, shareholders; and other organizations.
Despite the consultation, the company was unable to come up with a solution and filed for bankruptcy. The company’s smelter produces more than 110,000 metric tons of new aluminum and recycles an additional 50,000 metric tons of scrap metal per year.