RUSAL continues on growth path with a 4.9% increase in smelting production
2003年10月28日 - 7:00PM
PRニュース・ワイアー (英語)
RUSAL continues on growth path with a 4.9% increase in smelting
production Moscow, October 28 /PRNewswire/ -- RUSAL, one of the
world's leading aluminium companies, today announced healthy growth
in output across all its main product lines for the third quarter
of 2003. Smelting production showed a record 4.93% year-on-year
increase. As a part of its aim to double aluminium production in
the next decade and become one of the world leaders in production,
RUSAL is strongly committed to improving its technology and
production facilities. The Engineering and Technological Center
(ETC), introduced earlier this year, has become a coordinator of
the on-going upgrading programs. RUSAL's recent acquisition of
All-Russian Aluminium Magnesium Institute (VAMI), a researching
organization, also demonstrate the company's clear interest in
developing new technologies to raise the quality and quantity of
its products and will stimulate progress in upgrading projects.
Alexander Boulygine, chief operating officer of RUSAL said, "This
has been a quarter of organizational change combined with continued
progress in our core production capacity. Recent changes in RUSAL's
shareholding structure allow the management team's full focus on
the strategic goals of doubling aluminium production over the next
decade. Our strong operational platform, sound liquidity and strong
cash flows, leave us well placed to pursue this goal." Mr.
Boulygine also noted the importance of RUSAL's recent acquisition
of VAMI, Russia's centre of excellence for metallurgical research
and development. "VAMI will further increase RUSAL's competitive
advantage on the global stage by allowing us to tap in and benefit
from Russia's scientific knowledge base to develop new and improved
production technologies and techniques for RUSAL," he said.
Operational Overview: The growth in smelting production was
achieved primarily by increased amperage and current efficiency at
the Sayanogorsk and Krasnoyarsk aluminium smelters by further
improvements in technological processes as well as the addition of
several new cells. Cell amperage rose by 7 kA year-on-year at RUSAL
Krasnoyarsk in Q3'2003 and by 7 kA at RUSAL Sayanogorsk for the
same period. Current efficiency increased by 0.25% for the last
three months year-on-year at RUSAL Krasnoyarsk and by 2.7% at RUSAL
Sayanogorsk for the same period. RUSAL's increased focus on
value-added products at its smelting operation resulted in a 42.3%
year-on-year growth in the first nine months of 2003. Substantial
progress has been made on the long-term agreement signed by RUSAL
and Hydro Aluminium last year for production and sourcing of high
quality extrusion ingots, one of the major RUSAL's projects in that
area. Supply and installation of equipment is almost completed,
start up planned in December this year. RUSAL's US$750 mln. project
to build a new 270,000 ton smelter at Sayanogorsk by 2006 is
proceeding according to plan. Preparatory work at the site in
addition to designing the reduction and casting areas of the future
smelter have been initiated. The project recently passed
environmental impact assessment. With the addition of Friguia's
bauxite and alumina facilities into RUSAL's production chain, raw
material production increased sharply. The modernisation programme
continued at the Nikolayev Alumina Refinery, which aims to raise
the plant's output to 1.3 mln. tons by 2005 and together with the
optimisation of existing production facilities at Achinsk Alumina
Refinery, will help further raise the two plants' alumina
production. Production of aluminium semis demonstrated a slight
decrease due to exclusion of low-margin products from the mix as
well as due to continuing rationalisation of RUSAL's rolling
facilities which involves the transfer of some equipment amongst
the group's downstream plants. Aluminium beverage can production
showed a sharp increase reflecting the trend on the domestic can
market. Recent Highlights Include: - Change in RUSAL's ownership
structure, representing acquisition of a further 25% stake in the
company by shareholder Basic Element from Millhouse Capital, was
announced. This increased Basel's shareholding to 75%. - RUSAL
increased its overall debt to approximately US$2 bln. Loans from
western banks (including trade and pre-export financing) currently
total about US$700 mln. Capital attracted through ruble bonds
exceeds US$200 mln., long term investment loans (over five years)
account for over US$100 mln. The remaining borrowings are term
loans from a variety of Russian banks. About 70% of RUSAL's
borrowing is long-term (more than one-year) funds. - US$30 mln.
modernisation is continuing at Samara Rolling Mill aimed at
increasing the volume and quality of its can stock and turning the
mill into one of the world's leading can stock producers. -
Start-up of a new casthouse at Bratsk Aluminium Smelter to produce
multi-component alloys for sheet and foil production with annual
capacity of over 70,000 tons. The addition of the casthouse will
help to raise annual alloy production volume at Bratsk to 100,000
in 2004, which is a four fold increase over 2002. - RUSAL's
Engineering and Technological Centre began to develop a
modernisation programme for Novokuznetsk Smelter. - RUSAL SAMARA
Received ISO 14 001 Environmental Certification. Currently, all
RUSAL's key plants are either ISO 14 001 certified or preparing for
the certification. - RUSAL's Engineering & Technology Center,
in collaboration with Hatch Kaiser, began feasibility studies for
Sayanogorsk and Krasnoyarsk modernisation projects. - RUSAL's
Sayanogorsk Aluminium Smelter received an award for labour safety
from the Russian Mining Complex Association and the Central Sector
Trade Union Council. - A new dry gas scrubber designed by RUSAL and
VAMI was introduced at Krasnoyarsk Smelter. - As part of a
programme to increase cell amperage at Sayanogorsk, 4 new 260 kA
cells have been introduced. 5,300 kA cells developed by RUSAL's
Engineering and Technological Centre. Table 1 - Production Results
(metric tons, unless otherwise noted) Product Third quarter
Yr-on-Yr Nine months Yr-on-Yr Change Change (three (nine months,%)
months, %) 2003 2002 2003 2002 Bauxite(1) 1 029 854 458 244 124.74
3 127 702 1 303 126 140.02 Alumina(1) 757 776 548 600 38.13 2 216
192 1 609 200 37.72 Primary 655 139 624 379 4.93 1 923 999 1 849
971 4.00 aluminium & value added casthouse products Aluminium
52 760 56 642 -6.85 163 868 151 980 7.82 semi products including:
Flat rolled 42 249 47 526 -11.10 132 047 126 468 4.41 products
Extruded and 10 511 9 116 15.30 31 821 25 422 25.17 forged products
Foil 12 349 9 982 23.71 34 863 25 634 36.00 Aluminium 253 160 193
801 30.63 747 434 595 117 25.59 beverage cans ('000) Other cans 14
020 18 820 -25.50 50 425 62 343 -19.12 ('000) (1) The sharp
increase in bauxite and alumina production is due to the addition
of the Friguia alumina refinery facilities in Guinea. Table 2 -
Bauxite & Alumina (metric tons) Mines and refineries Nine
months Yr-on-Yr Change (nine months, %) 2003 2002 Compagnie des
Bauxites de 1419 927 1 303 126 8.96 Kindia (Guinea) - bauxite
Alumina Company of Guinea - 1707 775 - bauxite Alumina Company of
Guinea - 543 092 - alumina Achinsk Alumina Refinery 786 400 772 400
1.75 (RUSAL Achinsk) Nikolayev Alumina Refinery 886 700 836 300
6.03 Table 3 -Primary Aluminium (metric tons) Smelters Nine months
Yr-on-Yr Change (nine months, %) 2003 2002 Bratsk Aluminium Smelter
693 807 684 165 1.41 (RUSAL Bratsk) Krasnoyarsk Aluminium Smelter
671 520 645 717 4.00 (RUSAL Krasnoyarsk) Sayanogorsk Aluminium
Smelter 338 879 305 413 10.96 (RUSAL Sayanogorsk) Novokuznetsk
Aluminium Smelter 219 793 214 676 2.38 (RUSAL Novokuznetsk) Table 4
-Downstream Production (metric tons unless otherwise noted) Plants
Nine months Yr-on-Yr Change (nine months, %) 2003 2002 Samara
Metallurgical Plant (RUSAL Samara) 136 619 143 580 -5.03 Belaya
Kalitva Metallurgical Plant 30 400 27 587 9.13 (RUSAL Belaya
Kalitva) RUSAL SAYANAL 26318 24 566 7.13 RUSAL ARMENAL 9614 3 306
190.8 RUSAL ROSTAR ('000 beverage cans) 747434 595 117 25.59 RUSAL
ROSTAR ('000 ends) 1120590 1 073 066 4.43 Dmitrov Metallurgical
Plant (RUSAL Dmitrov) 50425 62 343 -19.12 ('000 cans) Dmitrov
Metallurgical Plant (RUSAL Dmitrov) 93696 79 267 18.20 ('000 ends)
About RUSAL RUSAL, a world leader in aluminium production, was
formed in March 2000 from the merger of a number of the largest
smelters and other aluminium producers located in the CIS. The
company accounts for 75% of Russia's primary aluminium output and
10% of the global primary aluminium output. RUSAL is a fully
vertically integrated company with a complete production cycle from
bauxite mining and the production of raw materials, to the
production of primary metal, semi-products and aluminium-based end
products. RUSAL is headquartered in Moscow. Website:
http://www.rusal.com/ DATASOURCE: RUSAL For further information:
Eugenia Harrison, Moscow, +7 095 720 5170, or ; Fred Harrison,
London, +44 (0) 20 7431 7517, or ; Stan Neve, New York, +1 212 333
3810, or
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