The plant closed in 2009, eliminating 650 jobs and eventually eliminating health insurance coverage for its retirees.
“Assuming we can get to a power structure that offers upside but protects shareholders in the downside, I think it would be a great investment,” Bless said. “There’s going to be restart costs, but it would be reasonably modest in the grand scheme of things.
"We think the plant could be producing quickly and producing a product that’s needed in the marketplace. We’ve got a (company) right next door ... we believe would like a good chunk of it in molten form; that’s Constellium’s plant, of course. So, it’s got all the attributes of something that would be reasonably low risk assuming power, and give us some nice upside.”
Century reported net income of $20.3 million, or $0.21 per common share, for the second quarter on higher aluminum prices and lower power prices in the midwest. Results were negatively impacted by a half-million charge for the finalization of a legal settlement.
Sales for the quarter were $458.3 million, up from the $331.9 million reported in the same three-month period in 2013.
Century had reported a net loss of $29.4 million for the second quarter 2013.