ERAMET, the French mining and metallurgical group, has reported that group turnover totalled €2,723 Million for the first nine months of 2011, a 4.5 % increase compared with the same period in 2010.
Third quarter 2011 turnover, at €792 Million, was slightly lower than in the 3rd quarter of 2010 due to trends in exchange rates and, to a lesser extent, nickel and manganese prices, the company stated. The Group’s output and shipments increased overall in the 3rd quarter of 2011 compared with the same period in 2010.
ERAMET Alloys, the division that includes gas atomised metal powder producer Erasteel, reported that turnover for the 3rd quarter of 2011 rose 11 % compared with 3rd quarter 2010. Over the nine-month period turnover totalled €669 Million for the Alloys division, up 21 % on the same period in 2010.
Patrick Buffet, ERAMET group Chairman & CEO, stated, “In the medium and long terms, trends are healthy for the fundamentals of the Group’s businesses, which are driven by market growth in emerging countries, particularly China. The Group will continue the modernisation of its current sites, which has already been widely implemented, the ramp-up of its organic growth projects, the in-depth study of its transformative projects and its policy of selective acquisitions and partnerships in all its businesses.”
Edited by: Paul Whittaker, Editor ipmd.net, [email protected]