Vimetco Cuts Aluminum Production in China      

On February 18th, 2009 Vimetco NV, the global producer of primary and processed aluminium products, announced further production cuts to its operations in China and provides an update on Romania.
   As a result of deteriorating market conditions Vimetco has taken further action to cut production in its China operations by another 50 000 tons from January, which has resulted in operating at 360 000 t/a capacity out of a potential 660 000 t/a. Vimetco will also continue to delay capital expenditure on new projects in China. Henan Zhongfu Industry Co., Ltd. (Zhongfu) has already seen cash cost for production per ton decrease by 20% for January 2009 compared to the third quarter of 2008.
   The 300MW power plant and the new cast house in China's Henan province, for high quality primary products, wire rods, billets and slabs, are on track to be fully operational by the second quarter of 2009. Zhongfu has already identified potential customers for these types of top level products.
   Vimetco also announced on the same day its Romanian subsidiary AlroSlatina's cost reduction program continues in 2009, with a total production cut of 65 000 tons, actively reducing raw material costs and a further decrease in the number of employees under review.