Source Pravda.Ru

Russian Aluminium Stepped up Production by 1% in 2002

In the year 2002, According to Russian Aluminium's press service, the company increased the production of primary aluminium by 1% year-on-year to nearly 2.5 million tonnes. Over the year, Russian Aluminium's subsidiaries increased the output of alumina by 3.7% on the year to 2.16 million tonnes and semi-finished aluminum - by 20.5% on the year to 221,730 tonnes. The revenues of Russian Aluminium for the year are estimated at USD 3.96 billion, as compared with USD 4.1 billion in 2001. The company's external borrowing, in 2002, reached a total of USD 1.5 billion, which is a 40% increase year-on-year.

In 2003, Russian Aluminium intends to consolidate its assets, bringing everything in a single holding company. The optimization of the company's management will also continue.

Russian Aluminium controlled by the stockholders of the Sibneft oil company and entrepreneur Oleg Deripaska accounts for the production of 70% of all Russia's and 10% of the world's aluminium.

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