Sherwin Alumina Co., a U.S. unit of commodities company Glencore PLC, said that it has filed for chapter 11 protection in light of challenging market conditions, MarketWatch.com reported today. A spokesman for Glencore, which owns the entire business, said the commodities producer and trader is "supportive of the restructuring process undertaken by Sherwin and is hopeful of an outcome that will allow for the continued operation of the Sherwin facility." Sherwin said that it will continue to operate while in bankruptcy and that Corpus Christi Alumina, another unit of Glencore, has offered to purchase almost all of Sherwin's assets for an undisclosed sum.
