Argentina’s Aluar Plans Brazil Investment

Reuters reports that Argentina’s biggest aluminum producer, Aluar (BUE:ALUA) intends to invest in Brazil and expects output to reach 475,000 tons this year.

The market news is quoted as saying:

Aluar will not meet its goal to increase output to 515,000 tons a year in 2011 as it shifts to focus on margins. Aluar regularly receives acquisition offers from companies at home and abroad, but is not currently considering any of them. The company, which exports about 75 percent of its total output, recently hired 300 employees to increase its workforce to just under 4,000. Most work at Aluar’s primary aluminum production plant in the southern city of Puerto Madryn.

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