24 June 2014
Further to the Company announcement on 29/02/1435H corresponding to 01/01/2014G, Saudi Arabian Mining Company (Maaden) announces today 26/08/1435H corresponding to 24/06/2014G that its subsidiary Maaden Aluminum Company (74.9% owned by Maaden and 25.1% owned by Alcoa) is starting today its initial production of aluminum sheets from rolling mill. The aluminum sheets will be used in the manufacture of aluminum cans and other end-use products.
The rolling mill will be in its ramp-up stage until gradually reaching its designed capacity of 380 kmt per year, following the industry best practice, and qualification requirements by potential customers. When commercial operation is declared, the financial performance of the rolling mill will be considered in the Company financial statements.
Any new developments regarding this matter will be announced later.
Further to the Company announcement on 29/02/1435H corresponding to 01/01/2014G, Saudi Arabian Mining Company (Maaden) announces today 26/08/1435H corresponding to 24/06/2014G that its subsidiary Maaden Aluminum Company (74.9% owned by Maaden and 25.1% owned by Alcoa) is starting today its initial production of aluminum sheets from rolling mill. The aluminum sheets will be used in the manufacture of aluminum cans and other end-use products.
The rolling mill will be in its ramp-up stage until gradually reaching its designed capacity of 380 kmt per year, following the industry best practice, and qualification requirements by potential customers. When commercial operation is declared, the financial performance of the rolling mill will be considered in the Company financial statements.
Any new developments regarding this matter will be announced later.
© Tadawul 2014
