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FINANCIAL NEWS
UAE’s Emal eyes more than doubling sales to US in 2012
21 Mar 2012
(MENAFN) Emirates Aluminum (Emal) unveiled plans to double its exports to the United States by the end of 2012, in a bid to benefit from the automotive industry boom, Reuters reported.
Emal expected slaes to the US to hit 250,000 metric tonnes this year. Emal sold 100,000 metric to the US last year.
CEO Saeed Fadhel Al Mazrooei said Emal wants to tap the US automotive industry boom, adding that demand for aluminum rose an estimated 7 or percent.
Mazrooei also said Emal’s order books showed healthy demand of 900,000 tonnes, providing an incentive for the firm’s development plans.
Emal is working on the USD3.8 billion second phase expansion process, aimed to produce 800,000 metric tonnes by the end of 2012 and 1.4 million metric tonnes by 2014.
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