Aluminium recycler Trimet logs 5% growth for the full year ended June 30

<p>Trimet Aluminium, the renowned aluminium recycler and secondary aluminium producer from Essen, Germany announced that its sales of aluminium products has increased significantly in the fiscal year ended June 30, 2016.<br /><br />The company produced approximately 775,000 tons of aluminium and cast iron products in 2015-16, up five per cent from the same last year. The sales of the Group totalled at &euro;1.7 billion ($1.9 billion) and equity ratio at 60 per cent. This indicates at a &lsquo;strong basis of action&rsquo; for the Group to steer ahead in the global aluminium business scenario.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Trimet.jpg" alt="News" width="594" height="395" /><br /><br />According to a Trimet media release, the company fully utilized the capacities of their refineries, aluminium smelters, and foundries. &ldquo;The expansion of production capacity and plant modernization measures, in which the family-owned enterprise has invested a total of &euro;84 million ($94.4 million), came to fruition,&rdquo; the release said.<br /><br />Trimet&rsquo;s performance shone through at a time when prices of aluminium were declining globally. The Group succeeded in achieving an improved adjusted profit of &euro;63 million ($70.8 million) than that previous year on the back of higher production volumes at its locations in France.<br /><br />{googleAdsense}<br /><br />&ldquo;We will continue our policy of qualitative growth,&rdquo; said Martin Iffert, CEO of Trimet Aluminium SE. &ldquo;With continuous investments at all production locations, we are optimally positioning ourselves to face the rising demand for aluminium and are constantly improving our production efficiency. Through the further development of production facilities and the tighter integration of our locations, we can more flexibly serve the current demand, secure long-term jobs and maintain our position as a provider of high-quality aluminium products for all stages of the material chain.&rdquo;<br /><br />Iffert is hopeful that the growing trend of automotive weight reduction would open up newer avenues of application innovation for them. He pointed at the engine blocks, drivetrain, clutch housings and transmission, battery casings and specialty wires as the key area of gowth in the automotive industry. <br /><br /></p>