Noranda expanding Missouri plant

Noranda Aluminum Holding is moving ahead with plans to expand its massive New Madrid, Mo., smelter. One phase will cost $38 million and replace rectifiers and expand production by 35 million pounds per year. Work on that phase is expected to yield additional capacity beginning in 2013. Separately, the Franklin-based company (Ticker: NOR [2]) said it also has started engineering work for a planned rod mill that still needs final board approval. That project would be worth $40M in all.

SEE ALSO: S&P's thoughts [3] on the company's planned refinancing and special dividend