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Catherine Soper
Public Affairs Manager

CFAC Continue Lease

Post Date:07/13/2004

Columbia Falls Aluminum Company (CFAC) has requested a time extension to decide if they will continue their lease with the Port of Everett.

The Port has had a lease with CFAC since 1968 to move the raw material known as Alumina ore from international cargo carrying ships. These ships have come to Everett primarily from Australia. The volume of cargo has consistently been around 325,000 tons each year, which is equivalent to approximately 8-10 vessels. However, in recent years the volume has been reduced significantly due to the price of aluminum production in the United States.

CFAC had until June 30 of this year to communicate their written notice of intention to terminate the CFAC/Port Lease. The company now would like until December 31, 2004 to decide, stating they need more time for financial analysis of their operations. CFAC is weighing the value of keeping their lease against the world demand of aluminum and cost of production.

CFAC has a lease to operate at the Port until 2011. The Port has had a strong business relationship with CFAC for over 35 years, and has seen a high payoff in the generation of jobs in both Washington and Montana. The Port would like to see that working relationship continue into the future.

For further information, contact Ed Paskovskis, Port of Everett Deputy Director, at (425) 259-3164.

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