Slovenian aluminium producer Talum is expecting positive financial results at the end of this year despite the on-going uncertainty in the global aluminium market, reports the Slovenian Press Agency (STA).
Chairman Marko Drobnič told the local media that the group was increasingly diversifying its primary aluminium business by increasing the manufacturing of value-added products.
Saying that the situation on the global market had never been this tough before, Drobnič referred to the current unpredictability in the supply of raw materials that has rendered prices highly volatile. He cited the U.S. sanctions on Rusal, the White House’s Section 232 tariffs and the winter production cuts in China as the main reasons behind the uncertainty in the global aluminium market.
As a result, Talum is betting on ready-made products to navigate through the uncertain times. The company published this year a new business strategy going up to 2022, emphasising sustainable development and steps towards digitalisation.
“I see great potential for development in innovation. A key priority is also to train staff to be able to respond to changes, given the developments outside that are extremely dynamic and unpredictable,” commented Drobnič.
Talum is the oldest aluminium smelter in South East Europe dating back to 1954 and it plans to become the biggest producer of aluminium slugs in Europe by 2020. The company remains in the Slovenian government’s ownership via the national electricity supplier Eles.
Ranked among the top 15 exporters in Slovenia, Talum produces over 84,000 tonnes of aluminium per annum. About 80 per cent of Talum’s production is sold abroad, mainly to companies in the European Union including car manufactures Mercedes and Porsche, and the electronics company Bosch.
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