Hulamin to invest R300m in aluminium recycling plant

HULAMIN based in South Africa’s Pietermaritzburg announced on Monday that they are planning to invest R300 million to construct an aluminium recycling plant that will convert aluminium beverage cans and convert them into raw materials for reuse.

Considering that recycling aluminium scarp takes a fraction of the energy needed to smelt the primary metal, the local market will get recycled aluminium via gas-fired furnaces.

The company reported a 96% increase in headline earnings per share according to the results for December 2014 results.

The amount being invested for the recycling plants is mostly sources out of the five-year R270 loan acquired from Nedbank.

Hulamin says their plans for 2015 include continued focus on core competencies and product streams.

"Our efforts to simplify the business and establish clear accountability will improve manufacturing performance and, in particular, production recoveries," the company said.