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The Holland-based company reduces the annual production capacity in China by 50,000 tons from that in January 2009, just keeping 360,000 tons for operation now. The potential capacity is 660,000 tons.
Pierre Baillot, CEO of Vimetco, announces that after the reduction, the company is running at about 60% of its total production capacity presently and keeps a close eye on the market. If the situation continues worsening, the company will be ready to take efficient and active measures to cope with.
The global aluminum price has plunged deeply after touching the record high at USD 3380 per on in July 2008, mainly due to the withering demand from communications and construction industries.
At the same time, Vimetco announces that it also cuts the output of an aluminum smelting plant in Romania by 65,000 tons in 2009 for lower cost.
Source: www.shihua.com.cn (February 20, 2009)
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