Argentina-based aluminum producer Aluar reported that it’s increasing its capacity utilization to 70pc after the fallout from the COVID-19 pandemic resulted in it plunging to a 55pc low.
According to media reports, the firm’s sales declined by 50pc during the outbreak of the pandemic. The manufacturer was forced drop capacity utilization to 55pc from 95pc at its plant in Puerto Madryn, Argentina, due to sanitary restrictions that were implemented to curtail spread of the virus.
However, Javier Madanes Quintanilla, the company’s president, recently said in a media interview that he plans to raise cap utilization back to 70pc as the situation has improved, however, no timelines were provided.
Aluar’s Puerto Madryn plant has an annual capacity of 460,000mt of aluminum products, such as plates, ingots, bars, wire rod and aluminum alloys. The company’s customers are in the construction, automotive and various other sectors. Aluar exports 70pc of its output volumes, and it operates a 35,000mt per year plant in Abasto, Buenos Aires, which produces value added products.