Bloomberg
Hulamin shuts down Camps Drift Mill
Edited by : AL CIRCLE
1 min read
Hulamin Ltd. (HLM) closed the Camps Drift hot finishing mill until about June 11 after a parts failure.
“It is estimated that approximately 23,000 tons of production will be lost,” the Pietermaritzburg, South Africa- based maker of aluminium products said in a statement today.
A planned shutdown was moved forward to coincide with the repairs and Hulamin will submit an insurance claim once losses are worked out, it said.
Hulamin is seeking to boost rolled-product sales to about 250,000 metric tons in 2014 from 208,000 tons last year, when net income rose 8.8 percent to 79.7 million rand ($9.8 million).
The company declined 1.5 percent to 6.65 rand by the close of trading in Johannesburg, the lowest since Sept. 14.
“It is estimated that approximately 23,000 tons of production will be lost,” the Pietermaritzburg, South Africa- based maker of aluminium products said in a statement today.
A planned shutdown was moved forward to coincide with the repairs and Hulamin will submit an insurance claim once losses are worked out, it said.
Hulamin is seeking to boost rolled-product sales to about 250,000 metric tons in 2014 from 208,000 tons last year, when net income rose 8.8 percent to 79.7 million rand ($9.8 million).
The company declined 1.5 percent to 6.65 rand by the close of trading in Johannesburg, the lowest since Sept. 14.
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