Friday, February 8 2019 11:35

ArmInfo. In 2018, foil production at the Yerevan based "Armenal" foil -rolling plant fell by  15.4%. This is evidenced by data from UC RUSAL, which presented the  operating results of last year.

According to the source, in 2018, the company produced 28.5 thousand  tons of foil against 33.7 thousand tons a year earlier.

To note, the decline in production was due to the sanctions imposed  by the United States against Oleg Deripaska's companies. As the  Company previously reported, on April 6, 2018, the Office of Foreign  Assets Control (OFAC) of the US Department of the Treasury added the  Company to the SDN (Special Designated Nationals) sanctions list. On  January 27, 2019, OFAC announced the lifting of sanctions. Thus, for  most of 2018, the Company was under sanctions. These circumstances,  combined with a number of other factors, led to a deterioration in a  number of operating indicators.

In 2018, the total aluminum production in the company amounted to  3,753 thousand tons, which is 1.3% higher than the previous year. At  the same time, last year the volume of sales of aluminum decreased by  7.2% compared with the same period a year earlier, reaching 3,671  thousand tons. Sales of value-added products amounted to 1,664  thousand tons, which is 11% less than in 2017. The share of the  value-added products in the total sales volume was 45%.

In 2018, the average selling price of aluminum increased by 7.3% to $  2,259 per ton compared to last year, which was mainly due to the  increase in the average price of aluminum on LME for the first three  quarters of 2018, taking into account the quotation period, by 8.5% -  up to $ 2,107 per ton. The average realized premium in 2018 decreased  by 6.7% compared to last year - to $ 152 per ton.  ArmenAl Yerevan  Foil Rolling Plant was established by UC RUSAL in 2000 on the basis  of the Kanaker Aluminum Smelter. It is one of the largest industrial  enterprises of Armenia and the only producer of aluminum foil in the  Caucasus and Central Asia. Together with the factories SAYANAL, Ural  Foil and Sayan Foil form the Packing Division of RUSAL.  RUSAL - the  leader of the global aluminum industry. In 2017, the company  accounted for about 5.8% of global aluminum production and 6.3% of  alumina. The company employs about 62,000 people. RUSAL is present in  20 countries of the world on 5 continents. RUSAL ordinary shares are  traded on the Hong Kong Stock Exchange (trade code 486). Ordinary  shares of RUSAL are traded on the Moscow Stock Exchange (trade code  RUAL).