Kidričevo, 25 November (STA) - The Kidričevo-based group Talum, which is increasingly adding production of ready-made products to the principal activity of aluminium production, expects good business results this year despite the turbulent and unpredictable situation on the global market, chairman Marko Drobnič has told the STA.
According to him, the conditions in the aluminium industry globally have been extremely dynamic and unpredictable this year, both in terms of supply of raw materials as well as their prices.
He said the situation had never been this tough before.
Drobnič attributed this to the relations between the US, Russia and China, most notably the US's sanctions against certain Russian companies, its introduction of customs, and environmental restriction on production in China.
Talum had to respond quickly to the growing prices of the raw materials used in the production of primary aluminium, especially aluminium oxide.
Since the production of aluminium in Europe will become a relatively sensitive matter given the circumstance, Talum's strategic goal since 2012 has been to raise the value added of its products.
The new business strategy for 2018-2022 also follows this guideline. According to Drobnič, the emphasis will be on sustainable development, renovation and optimisation of business processes and digitalisation.
"I see great potential for development in innovation. A key priority is also to train staff to be able to respond to changes, given the developments outside that are extremely dynamic and unpredictable," the CEO said.
Talum expects revenue to reach some EUR 360m at the end of the year, which is 3% more than in 2017. Profit is expected to be somewhat lower, at EUR 1.5m.
The group currently employs 1,500 people, which is 125 more than at the end of 2017.