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EAFA
economic conditions hit alufoil production
Given current economic conditions
figures for the first half of 2009 show a
13 percent fall in the European alufoil
Alufoil tray
production to 371,400 tonnes, compared
to the corresponding period a
year earlier.
Thicker alufoil gauges, used mainly
for the manufacture of semi-rigid
foil trays and technical applications
rusal agrees terms
of debt restructuring
ALUMINIUM · 9/2009
for the automotive and building sectors
were the worst affected falling
by 26 percent, while thinner gauges
used mainly in flexible packaging
and household foil were better off
declining by 7 percent.
Despite this slump in production,
representatives of the alufoil
industry are looking ahead more
optimistically than some months
ago. “It is not all bad news for the
alufoil sector as the one-off effect
of stock reduction along the supply
chain seems to be over”, says Stefan
Glimm, Executive Director of
the European Aluminium Foil Association
(EAFA). “Data for the last
two months show a bottoming out
in particular for thicker gauges and
exports.”
Aluminium foil is an essential
part of many flexible packaging and
container applications. Other uses include
automotive and heat exchange
components, insulation material and
many other industrial applications.
UC Rusal has agreed the principal terms of a long-term debt
restructuring with the Coordinating Committee which represents
more than 70 international lenders. According to the
agreement, Rusal will settle its debt to international banks
within seven years. The restructuring will be split into two
phases. During the first period of four years, Rusal will focus
on maximising efficiencies across the business and taking
full advantage of the recovery in demand. Rusal has periodical
debt reduction targets in place and will seek to repay a
total of five billion US-dollars of debt owed to all lenders by
the fourth quarter 2013.
During this period principal repayments will be made on
a ‘pay-if-you-can’ basis based on the performance of the business,
thereby ensuring the full sustainability and integrity of
its operations. Interest will be paid partly in cash, at a rate
ranging from Libor +1.75% to 3.5%, with the remaining portion
to be capitalised. Furthermore, in order to preserve cash
for lenders and the business, no dividends will be paid until
the net debt to Ebitda ratio reaches 3x.
The second phase of the restructuring will involve the
refinancing of the remaining debt by existing lenders for an
additional three years. Such refinancing will be at Rusal’s
option, as it may opt for an alternative refinancing of the
debt on market terms should this prove more favourable to
the company.
By Order of a Secured Creditor
For more information and
terms of sale, please visit
www.Go-Dove.com
N e w s i N b r i e F
Zenergy to supply
innovative induction
heater to sapa Profili
Zenergy Power has received a further
commercial order for a low-energy,
high-productivity induction heater.
The facility, which is based on Zenergy’s
superconductor technology, has
been purchased by the Italian subsidiary
of Sapa, Sapa Profili Srl.
The induction heater ordered by
Sapa will be used as a replacement
for a conventional gas-fired heating
furnace currently installed at its
aluminium plant located in Bolzano,
Northern Italy. It is anticipated that
the replacement of the plant’s conventional
equipment with Zenergy’s superconductor-based
heater will lead
to improved operational efficiency
and thus enhance the plant’s overall
commercial potential. In particular,
Sapa will exploit the superconducting
heater’s processing versatility to
enable the heating of several different
types of aluminium alloy at the same
plant.
(2) Complete Aluminum Extrusion
Facilities of Signature Aluminum, Inc.
Live & Webcast Auction
Sale Date: Thursday, 24 th September 2009 at 10:00 AM CDT
Auction Locations:
Temroc Metals, 4375 Willow Drive, Hamel (Minneapolis),
MN 55340 (Live & Webcast)
Atlantic Aluminum, 18631 MC Highway 71, Lumber Bridge
(Fayetteville), NC 28357 (Webcast only, to be sold from MN location)
Inspection: Hamel - Wednesday, 23rd September 2009
from 10:00 AM to 4:00 PM CDT or by appointment;
Lumber Bridge – By Appointment Only
Assets include:
• 5-Axis 6-Sided CNC Profile Machining Center: Handtmann
PBZ-NT-800 A.S. (2002)
• 4-Axis CNC Vertical Machining Centers: (7) Haas; Fadal; Chiron
• Aluminum Extrusion Presses, Billet Ovens, & Aging Ovens:
(2) Sutton 1650-Ton; Wean 2250-Ton; Lombard 1250-Ton
• Hydraulic Press Brakes: (6) Accurpress 150, 130, 100 & 60-Ton;
Cincinnati 135-Ton
• CMMs: (3) Brown & Sharpe (Late as 2002); Numerex
• Toolroom Equipment: Mills; Lathes; Presses; Welding Systems;
Cutoff Saws; Shot Blast & Inspection Equipment
• Paint Line: Electrostatic
• Material Handling & Plant Support Equipment: Bridge Cranes;
Forklifts; Air Compressors; Parts; Spares; Office Equipment &
Much More
Also available as an entirety: Complete billet casting and
extrusion facility with 4 press lines located in Greenville, PA.
For further information, please contact: BRYAN GOODMAN
Tel: +1 410 654 7500 ext. 235 Email: bryan.goodman@go-dove.com
*Virtual Brochure is Available on the Website