Konecranes

2009 Buyers’ Guide

The Aluminum Association has released its 2009 Buyers’ Guide.

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Aluminium drinks cans recycling slow-down

Current market conditions are affecting deliveries for recycling of aluminium drinks cans, according to industry organisation Alupro.

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Production cut

Rio Tinto is cutting production at its Weipa bauxite mine in Queensland, Australia by 9% in response to weaker demand.

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Chinalco is to invest $19.5bn in cash in the Rio Tinto mining group.

The move will see Chinalco increase its share in Rio to 18% from its current 9% and investment in aluminium, copper and iron ore joint ventures totalling $12.3bn.

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UC Rusal cuts output by 11%

UC Rusal will cut 11% of its annual aluminium output, 30% of alumina output and 5% of its staff as it tackles the global economic crisis.

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Deripaska re-elected as Rusal CEO

Oleg Deripaska, the Russian billionaire, is to return as chief executive of UC Rusal after being re-elected by its board.

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Chinalco cuts salaries by up to 15%

China’s biggest aluminium producer is to cut salaries by up to 15% this year, while senior executives’ salaries could be cut as much as 50% in an effort to preserve jobs in the face of slumping demand.

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Norsk Hydro is to split its business

Aluminium Metal and Aluminium Products will both be divided into two, enlarging the number of business areas in the company from four to six: Energy, Primary Metal, Metal Markets, Rolled Products, Extruded Products and Projects.

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