Tue, 01/15/2013

Amsterdam, 15 January, 2013 - Vimetco NV (LSE: VICO, "the Company"), the global producer of primary and processed aluminium products, today announces that it has successfully produced the first hot rolled coil at its new hot rolling mill at its Chinese unit, Henan Zhongfu Industry.

"The first coil was rolled on 20 December, 2012, 33 days ahead of schedule. This is a breakthrough for the Company and demonstrates the commitment and hard work of our team in China,"  comments Gheorghe Dobra, CEO of Vimetco. "The commissioning of the hot line 1 + 4 rolling mill with a capacity of 750,000 tonnes is part of our strategy to turn Henan Zhongfu Industry into an integrated main supplier for high value products, primarily for the Chinese market. Currently, the Zhongfu unit has an integrated production structure with smelters, cast houses and the new rolling mill, allowing us to achieve a competitive cost structure, while offering our customers the best product and quality of service."

The Company has invested in a cast house for slabs with an initial capacity of 380,000 tonnes and a 1 + 4 hot rolling mill, with a capacity of 750,000 tonnes. The hot rolling mill has state of the art technology, supplied by German machine builder SMS/Siemag and the electrical components and control systems from Siemens, Germany. The hot line will be able to roll coils close to 2200 mm wide  and  weighing more  than 30 tonnes. The hot line will enable all metal produced by the Company to be utilised and processed into high-added value end products.

Following the commissioning of its mill for the production of high added value rolled products, Henan Zhongfu Industry will be able to serve the Chinese market for aluminium drink cans and other products. The completion of the mill is another step towards fulfilling Henan ZhongfuIndustry's long term strategy of consolidating its position as an integrated aluminium producer.

Vimetco has been the majority shareholder in Henan Zhongfu Industry since 2006, with a 51.68% stake. Henan Zhongfu Industry is among the 500 biggest companies in China and is one of the biggest Chinese Aluminum producers with a capacity of 850,000 tonnes. The Group also has smelting plants in Gong Yiand Linzhou and processing facilities in Zhengzhou, with a capacity of 150,000 cold rolled products and casting facilities. The Company also controls mining facilities with a capacity of 2.25 million tonnes of coal and 3 x 300 MW coal-fired power stations in Gong Yi, and  2

© Publicnow - 2013