ERAMET increases turnover by 33% in 2010

February 21, 2011

ERAMET, the  French mining and metallurgical group headquartered in Paris , has announced a 33% increase in turnover for 2010. Figures recently released show turnover grew to €3,576 million in 2010, up from €2,689 million in 2009, with operating income for the year rising sharply to €739 million (compared to a loss of €163 million in 2009).

Patrick Buffet, ERAMET Chairman & Chief Executive Officer, stated, “The sharp improvement in ERAMET’s results in 2010 reflects not only the Group’s resilience and ability to bounce back, but also its great responsiveness, stemming from its targeted positioning on attractive sectors.”

ERAMET Group employs approximately 15,000 people in 20 countries and is a leading global producer of alloying metals, particularly manganese and nickel, along with high-performance special steels and alloys used in industries such as aerospace, power generation and tooling. The Group includes metal powder manufacturers Erasteel, based in Sweden and Eurotungstene, located in Grenoble, France.

“The ERAMET Group is aiming to almost double its industrial capital expenditure in 2011 to more than €600 million and has all the financial and technological resources needed to reach its long term objectives. The Group’s strategic project will mean faster growth in the coming years and substantial value creation, for the benefit of all its stakeholders, particularly its local partners,” continued Buffet.   

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