Netherlands-based aluminum producer Vimetco NV (VICO.LN) is to cut output at its Romanian operations by up to 65,000 metric tons, taking its total output cuts in 2009 to 160,000 tons, the company said Wednesday.
However, its outlook remains unchanged despite a decline in its share price over the past several weeks, with its funding profile sound and operational prospects expected to stay stable, Vimetco added.
Production costs will fall per ton, Vimetco said, as a result of rigorous cost reductions, including the outsourcing of non-core services, sale of non-business-crucial assets and a substantial cut back in head count in Romania, as well as the startup of a new state-of-the-art smelter in China.
