Shanghai Metals Market
Mingtai Aluminum Reports 30% Increase in 2011 Revenue
Edited by : AL CIRCLE
1 min read
Annual report of Henan-based Mingtai Aluminum reveals revenues of the company grew 31.74% YoY to RMB 6.573 billion and its net profits climbed 6.36% to RMB 256 million in 2011, after annual production expanded 23% YoY to 340,000 mt and a 6.88% yearly increase in aluminum prices led to higher products prices. Sluggish demand due to a slowdown in global economy and falling aluminum prices, however, caused a 14.61% YoY drop in its 4Q revenues.
The company expects to complete several projects this year, including a 50,000 mt/yr capacity expansion mainly covering highly profitable aluminum alloy plate, compound foil, electronic foil and packaging foil, a 20,000 mt/yr capacity upgrade, and a 30,000 mt/yr capacity for substitute products including mainly CTP substrate. An overall investment RMB 703 million has been set for these projects which are to be completed in 18 months. Full capacity operation will start 3 years after initiating production.
The company expects to complete several projects this year, including a 50,000 mt/yr capacity expansion mainly covering highly profitable aluminum alloy plate, compound foil, electronic foil and packaging foil, a 20,000 mt/yr capacity upgrade, and a 30,000 mt/yr capacity for substitute products including mainly CTP substrate. An overall investment RMB 703 million has been set for these projects which are to be completed in 18 months. Full capacity operation will start 3 years after initiating production.
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