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Russian aluminum will invest in modernization of the production facilities of the Eastern division of $50 million

21 March 2013
Russian aluminum will invest in modernization of the production facilities of the Eastern division of $50 million

United company RUSAL (Russian aluminum)

plans to invest in upgrading the production capacity of their division

«The East» this year, about 50 million USD. About this in his interview with journalists said the chief

Manager Eastern division, which includes the Irkutsk, Bratsk, Krasnoyarsk,

Novokuznetsk, Khakas and Sayanogorsk aluminium smelters — Vladimir Polin. «Our

the challenge for today is to increase the average efficiency for the division. One of

ways to achieve this goal — the modernization of equipment of existing enterprises,

for which the company will allocate over 10 months 48−50 million

dollars. This is three times more than the amounts that the company has spent on such events

last year," — commented the representative «Rusala».

Recall: at the end of February of the current year due to

overproduction of aluminum in the global market that are not supported by reciprocal growth

consumption, stock quotes of the metal fell below $ 2000 USD

ton and remain at this level for the past three weeks. In connection

with this, world leaders in the aluminum industry took the decision to reduce production volumes

the «winged» metal to stabilize the situation with the prices. In particular, in

the beginning of March the management of the company «Russian aluminium» was considered appropriate

to stop part of their own businesses

(capacity of about 300 thousand tons) and converted a number of factories to reduce the cost

production processes. In the framework of this program and will implement the above mentioned activities

for modernization of the «East». In the process of its implementation is the key

note — according to Mr. Polina — will be given to two of the company’s assets — Novokuznetsk

and Irkutsk plants that suffer from low profitability is stronger than other companies

Eastern division.

Also, in his interview with journalists, the head of the

battalion «Vostok», said: «in Addition to reducing production volumes at

inefficient units «RUSAL» and in addition to the alteration of existing

capacity, management of the Corporation plans to refocus plants in Eastern

division in favor of products with higher added value». «So

after 5 years — according to the plans of management at the enterprises of the «East» will

to produce about 50% (of total production) of products of high

redistribution instead of the current 33%," added Mr. Pauline.

21 March 2013
23 March 2013