German aluminium exporter reports higher revenue despite Trump's tariffs on imported aluminium

AL Circle

US President Donald Trump imposed higher tariffs on European aluminium in June 2018, 10% to be precise. Six months on, a German aluminium producer is saying "Thanks Mr. Trump" as the company feels despite the aluminium tariffs, they have managed to earn higher revenue and do profitable business.  

Alimax, which has a plant near Dusseldorf has been exporting to the U.S. and paying 10% import duties on aluminium but still they are able to make profits as the price of aluminium went up due to tariffs. This was confirmed by alimax CEO Philip Grothe in a media interview.

{alcircleadd}

Alimex, the inventor of the cast plate, produces aluminium cast plates for the highest demands. In German precision work, the company also manufactures aluminium components. The company supplies to industries like Mechanical Engineering, Medical, Semiconductor and Solar industry and automotive sector.

The German aluminium manufacturers exports to the U.S. and also manufactures in its US plant.  Alimax CEO wants to expand its production at its South Carolina factory because the more they produce in the U.S. the less they would have pay in import taX and after one point tariffs will not matter much to the company.

Philip Grothe also added that the US operations account for only 10 per cent of the company’s revenue currently. However, he expects this to change with the expansion of operations in the U.S. The revenue and profit from the American business is likely to double in the next few years, he said.

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals

Alternate Text
CETAG

A supplier of proven systems and an expert adviser in aluminum casthouse technology, offering its services worldwide to the aluminum industry.

Alternate Text
IBAAS​-IIM 2024

September 25-27, 2024 | BITS Pilani K K Birla Goa Campus, Goa, INDIA

Related
Business Leads
We have a buying requirement of aluminium notch bar. Destin...
20-May-2024 Buying request

We have a buying requirement of 500-1000 MT / month of alumi...
20-May-2024 Buying request

Interested to buy aluminium extrusion profiles. Destination...
17-May-2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads