CHARLESTON, W.Va. -- Despite losing $40.3 million last year, Century Aluminum still hopes to reopen its Ravenswood smelter, the company said in a financial statement released Thursday.
The company lost $9.7 million in the last three months of 2013, according the financial statement. Century's statement also reported paying $8.4 million to Logan Kruger, its former chief executive officer.
During the fourth quarter of 2012, the company lost $6.9 million.
"We remain absolutely and resolutely committed to reopening our smelter at Ravenswood, West Virginia, and are working hard on a number of processes to this end," Century stated in its annual report.
Union workers are skeptical, though.
Randy Moore, sub-district director for the United Steelworkers of America in West Virginia, said, "That is what they keep telling us. But nothing really takes place.
"We still have the situation with the retirees. We still need a power deal and we still need aluminum prices to improve," Moore said. "But I'm glad to hear that."
Century closed its Ravenswood plant, which originally opened in 1957, in February 2009 and laid off 651 employees.
In October, as part of an incentive package to get Century to reopen its Ravenswood smelter, West Virginia legislators and the state Public Service Commission agreed to let Century pay a lower rate for its electricity than other electric power customers.
But Century officials rejected the deal, saying it wasn't beneficial enough. But they said they still wanted to work out a deal suitable for everyone.
Karen Gorrell, whose husband worked at Century's plant in Ravenswood for 33 years, has been leading a movement of retired workers hoping to win back their pension benefits, which were taken away after the company shut down the plant in 2009.
In its annual report released on Thursday, Century said it is also working to get a favorable electric power arrangement, reducing electricity costs, to keep its plant in Mt. Holly, S.C. open.
"Likewise in Iceland, we continue to work with numerous constituencies to seek a way forward for the Helguvik project," the report stated.
Michael Bless, Century's president and chief executive officer, said, "The last several months closed out what we believe was successful and forward-looking year for Century."
Bless said the company's Sebree aluminum smelter in Henderson County, Ky. and its Hawesville smelter in nearby Hancock County, Ky. are both doing well today.
The Sebree and Hawesville smelters employ about 500 people and 640 people, respectively.
According to its filing with the federal Securities and Exchange Commission, Century reported improved economic conditions earlier this year.
During the first quarter of 2013, Century reported making a profit of $8.3 million, compared to a $4.4 million loss suffered during the first quarter of 2012.
Reach Paul J. Nyden at pjny...@wvgazette.com or 304-348-5164.