24 APRIL 2017AlCircle.com
Swisstek Aluminium to expand its aluminium capacity
Edited by : Heena Iqbal
1 min read
<p>Swisstek Aluminium PLC, the manufacture of aluminium extrusions in mill, anodized and powder coated finishes and a subsidiary of Lanka Tiles PLC, intends to expand its aluminium production capacity from 450 tonnes to 1,000 tonnes within three months, as reported.</p>
<p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Extrusion-Section-2.jpg" alt="news" width="517" height="226" /></p>
<p>The intention behind the move is to cope up with growing demand for aluminium. An official said to the local media, “The total demand now for aluminium is 2,500 tonnes for a month. So there’s a lot of scope.”</p>
<p>The company is hoping to provide more than half of demand for aluminium. According to company, the infrastructure progress in Dompe, Sri Lanka would lead to additional demand growth for aluminium.</p>
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<p>During last quarter, Swisstek Aluminium’s bottom-line disturbed due to increase in aluminium prices. The company’s profit before tax dropped (6.2 per cent in Q3 FY 17) for the first time since three years. This is because of the increase in aluminium prices eroding margins for the quarter.</p>
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