Bloomberg News

Hulamin Closes Camps Drift Mill After Component Failure

May 14, 2012

Hulamin Ltd. (HLM) closed the Camps Drift hot finishing mill until about June 11 after a parts failure.

“It is estimated that approximately 23,000 tons of production will be lost,” the Pietermaritzburg, South Africa- based maker of aluminium products said in a statement today.

A planned shutdown was moved forward to coincide with the repairs and Hulamin will submit an insurance claim once losses are worked out, it said.

Hulamin is seeking to boost rolled-product sales to about 250,000 metric tons in 2014 from 208,000 tons last year, when net income rose 8.8 percent to 79.7 million rand ($9.8 million).

The company declined 1.5 percent to 6.65 rand by the close of trading in Johannesburg, the lowest since Sept. 14.

To contact the reporter on this story: Carli Cooke in Johannesburg at clourens@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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