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).
