Week in Review: News headlines from downstream aluminium sector

The week gone by is marked by a few quarterly results, project announcements, product announcement etc.  There are some positive developments in production, shipment and revenue. Automotive sector continues to drive the aluminium market, making the downstream producers focus on the expansion of automotive lines. Europe reported improved aluminium foil delivery and Manaksia Aluminium reported increase in net profit. Logan Aluminium saw new investment for automotive expansion. Here are a few headlines from the top news stories of the week:

EAFA reports improved alufoil deliveries in Q1 2017 driven by strong domestic demand

According to the latest figures released by the European Aluminium Foil Association (EAFA), European markets started 2017 with strong demand for all grades of aluminium foil. Production increased 1.5% YoY to 226,900 tonnes in Q1 2017. Exports registered a downturn in Q1 in comparison to Q1 2016, after a strong end of 2016.

Deliveries of thicker foils as well as thinner gauges were up 0.7% and 1.5% respectively indicating a steady recovery in the economies of the EAFA region. Total YTD domestic shipments were up by 3.6% through March 2017. 

Manaksia Aluminium’s standalone net profit rises to INR 0.70 crore in Q4 FY2017

One of the leading Indian aluminium sheets and coils manufacturers, Manaksia Aluminium Company, reported a rise in sales by 11.79 per cent to INR 63.24 crore for the quarter ended March 31, 2017.

The quarterly net profit of the downstream aluminium products company jumped to INR 0.70 crore from a net loss of INR 3.04 crore in the corresponding quarter ended March 2016. Sales surged 11.79 per cent INR 63.24 crore in fourth quarter of the last financial year as against INR 56.57 crore during the previous quarter ended March 2016.

Tri-Arrows to invest in aluminum cold rolling mill in Logan County, Kentucky

Tri-Arrows Aluminum Inc., a supplier of rolled aluminum sheet for beverage cans and automotive uses, will invest $125 million to build a cold rolling mill at Logan Aluminum Inc. in Kentucky which is expected to create 60 jobs in the western part of The Blue Grass State. The project aims to cater to the rising customer demand in both the industries.

The new rolling mill will supplement an existing cold rolling operation at Logan Aluminum and expand both beverage can stock production capacity and thicker, higher-alloy rolled sheet for use in automotive body and structural panels.

MWSD rebrands as MWheels, bringing European operations under same banner

Distributor of Xlite and Xlite+ forged aluminium wheels, Motor Wheel Service Distribution (MWSD) has rebranded as MWheels. The move positions the distributor’s European operations under one banner, having established a German company with the MWheels name at the beginning of the year. The new name is in full effect from Monday 22 May 2017, with the name and logo immediately visible on its reworked website, marketing literature and communications. The new corporate identity will be introduced across all product packaging over the coming months. The logo will also replace the Chevron as MWheels’ quality stamp on its steel, Xlite and Xbrite+ forged aluminium wheels.

{googleAdsense}

JWE manufactures aluminium anodising line for GSM Graphic Arts

Jacquet Weston Engineering Ltd (JWE), the leading manufacturer of Metal Finishing Process Plants and supplier to the aluminium treatment and aerospace industries and other sectors, has manufactured an aluminium anodising line for GSM Graphic Arts Ltd.

GSM Graphic Arts is one of Europe’s largest manufacturers of high quality labelling products. The company manufactures anodised aluminium labels, nameplates and panels for nearly 40 years.