Kaiser Aluminum Finishes Restructuring: Oakland-based Kaiser Aluminum...

Kaiser Aluminum Finishes Restructuring: Oakland-based Kaiser Aluminum said it sold its 20% stake in Boyne Smelters Ltd. of Australia for an undisclosed amount. As a result, Kaiser “has substantially completed” its restructuring program, the company said. Kaiser Aluminum, which is owned by Los Angeles-based Maxxam Inc., has received net cash proceeds of about $452 million from the sale of various assets so far this year. Most of the money was used to retire debt, which now stands at about $220 million, down from $606 million at the end of 1988.