Alunorte to Expand Alumina Output by 24% in 2008

Alunorte, which is alumina making joint venture between Brazil and Japan, finishes the third expansion to annual 6.26 million tonnes of output capacity in August. The firm increases the output by 24% to 5.27 million tonnes in 2008 from 2007. Albras, which is aluminium smelting joint venture between Brail and Japan, keeps full capacity operation at 453,000 tonnes for primary aluminium for 2008 as 2007. Alunorte increased the output by 8.0% to 4.253 million tonnes in 2007 from 2006 after expansion. The firm posted 12% lower recurring profit at US$ 366 million and 4.8% lower net profit at US$ 276 million with 12.3% higher sales at US$ 1.432 million in 2007. The firm increases dividend by 2% to US$ 73 million. Albras kept full capacity operation in 2007 making 455,000 tonnes of primary aluminium, which was 0.2% lower than 2006. The firm posted 4.6% lower recurring profit at US$ 247 million and 2.2% lower net profit at US$ 174 million with 14.1% higher sales at US$ 1.227 million in 2007. The firm increases the dividend by 83.9% to US$ 103 million. The ventures were suffered from higher real against US dollar while the higher market price contributed to the profit.