博文

目前显示的是 八月, 2017的博文

Disruption at Sohar Aluminum to last up to 6 months

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Production at Oman's Sohar Aluminum could be disrupted by as much as six months, sources said Thursday, following the "interruption" of smelting operations after an "incident" reported by the company last Friday. A trader said he expects the plant to remain closed for four to six months, with at least 150,000 mt of aluminum production lost. A second source, an aluminum producer, said he had heard it could take even longer than six months to fully restore operations, despite official statements there would be no long-term impact. "Sohar Aluminum refutes any unofficial statements, remarks, claims or communication circulated on social media, networking platforms, digital or print," according to a statement posted on the company's website since Monday. "There are no long-term implications on the daily operations of the company and we will resume normal operations at the earliest," the statement said, with the situation "immediately contr...

Hindalco reports 73% rise in aluminium EBITDA in FY2017, driven by higher volume

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Hindalco reports record standalone/consolidated performance across all operation including aluminium segment for the fourth quarter and the year ended 31 March 2017.  Hindalco reported 26% increase in March quarter net profit at INR 503 crore against INR 400 crore in Q4 2016, driven by better realisations. Revenue from operations was up 27% at INR 11,747 crore. Consolidated revenue for FY2017 was up 7 per cent at INR 39,383 crore while net profit increased more than 50% to INR 1,557 crore. EBITDA for FY2017 stood at a record ?13,558 crore, up 36% compared to FY2016, supported by stable overall operations. While the company's revenue from the aluminium business grew 9 per cent at ?5,548 crore for Q4 2017, the standalone revenue for aluminium division in FY2017 was also up 9% to stand at INR.19,986 crore, driven by higher sales volume and realization. EBITDA for the quarter increased 13% to stand at INR 1,570 crore. The full year EBITDA was INR 3,473 crore, up 73% compared t...

Garmco Aluminum Remelting Factory Held Ground-breaking Ceremony

Gulf Aluminium Rolling Mills Company (Garmco) invested 55 million US dollars of aluminum remelting factory , which held ground-breaking ceremony in Bahrain. The factory is a three-year project. The purpose is to improve the company’s profitability. Excavate local and international market opportunities. It is estimated that the completed in November, 2017. After the completion of the factory can produce aluminum billets of 120000t, which can provide 50 jobs. That can resulting in significant cost savings. France Fives Group and Garmco reached a engineering general contract for the project. Zayed AL Zayani, Minister of Industry, Commerce and Tourism of Bahrain and Mathias Fekl, Minister of Foreign Trade attended the ground-breaking ceremony. Jean-Baptiste Lucas, chief executive officer of Garmco, said: the project is consistent with the company’s overall strategic development, which will become the leading aluminum recycler, which collaboration with leading partners will furth...