Noranda Aluminum Holding Corporation has announced it is auctioning off the plant in New Madrid. The company has filed a motion to set up rule to sell it Upstream Business. The company has entered into an asset purchase agreement with Granges AB. As part of that agreement, a subsidiary of Granges will serve as the bidder for Noranda’s Flat- Rolled Products business. The agreement values that portion of the business at $302.5 Million. In February Noranda filed for bankruptcy. The company hopes the sale will become final on September 27th.