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FINANCIAL NEWS
Emirates Aluminum add a new value-added product
30 Jun 2012
(MENAFN) Aluminum giant smelter Emirates Aluminum (Emal) launched a new production line, Foundry aluminum, which is mainly used in the automotive industry, Trade Arabia reported.
The Abu Dhabi-based company said that the new value-added product is part of its long term strategy of producing more value-added products as it develops into one of the world’s largest single-site aluminum smelters.
The total annual production at the Al Taweelah smelter will rise to 1.3 million metric tons once the Phase II expansion is completed in 2014, it added.
The company expected total annual sales to increase by 5 percent next year. Asia, excluding China, is currently the main market for Emal’s sales, with 50 percent of total sales based on 2011 sales figures.
Emal said it expects its sales Europe to expand to 35 percent next year from 23 in 2011.
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