|The TEX Report Topics < Ferro Alloys >|
|HOME >> Topics List >> July, 2017 >> 10 (Mon)|
|ERAMET Group's New Chairman Visits Japan and Holds Interview|
|= Target to reduce costs by end of 2017 is expanded to EUR 400 million =|
Ms. Christel Bories, Chairman and Chief Executive Officer of ERAMET Group, France visited Japan and held a press interview at Hotel Okura located in Minato-ward, Tokyo on July 6, and explained about its corporate activity in 2016 and its outlook for the future.|
The business result of the group in the year 2016 shows a trend of making a recovery owing to improved metal prices and reduced internal costs. The total group's business profit is moving into the black thanks to the stable alloy division, a massive increase in the profit in the manganese division and the reduced loss in the nickel division, which is as a result of giving a priority to the creation of cash flow by doing such matters as the focus on core businesses: (1) Restriction on capital expenditure, (2) Postponement of major projects and (3) Disposal of assets during 2016 to 2017, improvement of competing power to lift its position in the market: (1) Expenditure reduction of EUR360 million and improved productivity and (2) Enhancement of a plan to improve the performance in the nickel business.
The Company will expand the target for its cost reduction set during 2014 to 2017 to a total of EUR400 million from EUR360 million.
The cost reduction in the nickel division will be accelerated until the year 2020 and the nickel production at Sandouville plant will be expanded including construction of a new line.
In the manganese division, the production at Moanda mine (Gabon) will be improved, the railway will be modernized and the ferroalloy and manganese metal plant which started in Gabon will make a contribution.
In the alloy division, the focus now is on the ongoing plan to improve performance and quality and lift its position in the industry.
|last modified : Fri 14 Jul, 2017 [09:39]|