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Modernization of Armenian foil plant ahead of schedule

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  • Modernization of Armenian foil plant ahead of schedule

    ArmenPress
    March 3 2005

    MODERNIZATION OF ARMENIAN FOIL PLANT AHEAD OF SCHEDULE

    YEREVAN, MARCH 3, ARMENPRESS: Georgy Avetikian, the chief manager
    of RusAl-ArmenAl foil mill facility, told Armenpress the
    modernization of the biggest manufacturer of a wide range of aluminum
    foil in the region, started in October 2004 is continuing ahead of
    schedule. He said the modernization is aimed both at improving the
    quality of its foil products and boosting the plant's profitability
    -in helping the mill to become one of the world leading foil
    producers.
    German engineering firm Achenbach was selected to execute the
    program, scheduled for completion in 18 months at an investment cost
    of US $70 million, of which $20 million are the share of RusAl, which
    owns 100 percent shares of the mill.
    The modernization program, which will also provide for a major
    upgrade in foil rolling equipment and also the establishment of a
    full production cycle, will lift the plant capacity by 25,000 tons of
    foil per year, including 18,000 tons of highly profitable thin foil
    in 6-9 micron gauge-increasing ArmenAl's profitability by 150%. On
    completion of the project, RusAl-ArmenAl's market share of thin foil
    production will reach 2.5% by 2008.
    Avetikian said some 30-35 percent of $70 million (around $20) will
    be paid as wages to Armenian workers and specialists and part of that
    money will be used to buy some equipment in Armenia.
    The modernization program, apart from a full-scale upgrade in
    rolling equipment, includes the installation of new casting machines
    and direct rolling mill, as well as an upgrade of hot rolling mills,
    to create a full cycle of production. As part of the modernization
    program the main foil rolling equipment will be refitted with control
    and automatic management systems. High- and low-pressure ancillary
    system hydraulics will also be upgraded.
    Elaboration of the program will raise the quality and
    profitability of RusAl-ArmenAl products and enable the manufacturing
    of new product ranges, as well as securing a continuous supply of raw
    materials by switching from coil to foil ingot, and set up a
    recycling loop for foil scrap.
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