Magnitude 7 Metals (M7M) announced plans to to reopen two of the three potlines at the the former Noranda aluminum smelter in Marston, Missouri, phasing in operations over the course of two years beginning in 2018. “We’re excited about the potential that the Marston facility holds, and we look forward to becoming a valuable member of the community,” said Bob Prusak, M7M chief executive officer.
A critical component to the company’s decision to reopen the smelter in Marston was their ability to negotiate energy costs with Associated Electric Cooperative, Inc. that would allow the company to compete in the global aluminum market. “With hard work and creativity, Associated and M7M have reached an agreement that is good for the bootheel, creates new jobs, and is good for M7M and Associated’s members,” said David J. Tudor, chief executive officer and general manager ofAssociated Electric. “This agreement will enable M7M to start operation and begin adding jobs in southeast Missouri immediately. Associated’s members will benefit through the more efficient use of available generating capacity, which helps offset the cost of service to all members.”
In addition to Associated Electric Cooperative, the economic development team that worked with M7M included the County of New Madrid, the Department of Economic Development, Representative Don Rone, Congressman Jason Smith, the Governor’s Office and the office of the President.
The Marston plant had closed in March 2016 after the former owners filed for bankruptcy, hundreds of jobs disappeared causing a major economic hit to the region. Restarting operations will create more than 450 jobs in the near term and potentially as many as 900 with future expansions.