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Aluminium S.A. signs new large $200 million contract
Edited by : AL CIRCLE
2 min read
Mytilineos Group subsidiary Aluminium S.A. has signed with Swiss-based multinational Glencore a contract for the sale of 75,000 tons of aluminium in billets and slabs, for a total price of $200 million. These quantities will be exported to the European and US markets from January 2013 to June 2014.
After its recent acquisition of the Xstrata multinational giant, Glencore today ranks as one of the three largest metallurgy and mining companies in the world.
This contract confirms the Group’s strong export orientation and stresses the important role of the aluminium industry in Greece, where it contributes more than 80% of the added value of Greek finished products that are exported abroad.
Finally, Group exports for 2013 are forecasted at 80-90% of the Group’s total sales, with the exception of the electricity production activity, which is addressed to the domestic market.
The conclusion of this agreement has also been made possible by the implementation of the MELLON Programme, the Group’s large-scale cost rationalization programme, and forms part of the steps taken to further internationalize the Group’s metallurgy and mining business activity – two initiatives that aim to secure the competitive position of ALUMINIUM S.A. in the European and global markets for the next twenty years.
After its recent acquisition of the Xstrata multinational giant, Glencore today ranks as one of the three largest metallurgy and mining companies in the world.
This contract confirms the Group’s strong export orientation and stresses the important role of the aluminium industry in Greece, where it contributes more than 80% of the added value of Greek finished products that are exported abroad.
Finally, Group exports for 2013 are forecasted at 80-90% of the Group’s total sales, with the exception of the electricity production activity, which is addressed to the domestic market.
The conclusion of this agreement has also been made possible by the implementation of the MELLON Programme, the Group’s large-scale cost rationalization programme, and forms part of the steps taken to further internationalize the Group’s metallurgy and mining business activity – two initiatives that aim to secure the competitive position of ALUMINIUM S.A. in the European and global markets for the next twenty years.
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