Century Aluminum Company, a global producer of primary aluminium, has reportedly signed a memorandum of understanding with MX Holdings to form a joint venture firm for manufacturing and marketing low-carbon secondary billet. MX Holdings is a global leader in the purchasing, processing, and manufacturing of non-ferrous metals.

According to the report, the new JV will produce and supply highly engineered and technically advanced aluminium alloys made of increased recycled content produced with low-carbon processes.

Under the new agreement, Century Aluminum and MX Holdings have also decided to produce billet at their existing, wholly-owned Pennex facilities. Each company will produce various alloys to meet specific customer needs.

Matt Rohm, CEO of MX Holdings, parent company to Metal Exchange and Pennex, said: “We are excited to embark on this endeavor with Century – a partner whose business strategy and expertise complement our own and whose team shares our values and people-centric culture. By pairing our collective focus on customer service with a state-of-the-art facility, cutting edge processes, and advanced technical expertise, billet produced by the joint venture will not only deliver exceptional quality and performance, but will enable our customers to achieve their sustainability objectives more effectively.”