It had uk canada goose a loss of 13

Bosnia Aluminij to end ’11 with small profit

MOSTAR, Bosnia, Dec 22 (Reuters) Bosnia sole aluminium smelter, Aluminij Mostar, will post a small profit this year and expects a loss in 2012 due to lower prices on the world market, General Manager Ivo Bradvica said on Thursday.

profit cheap canada goose uk will not be high and I can only say that we shall end the year positively, Bradvica told a year end news conference in the southern town of Mostar. forecast a loss for next year.

Bradvica said Canada Goose Online the company posted a profit of 4.5 million canada goose coats on sale Bosnian marka ($3 million) in the first half of the year but was hit in the last quarter by a fall in aluminium prices. It had uk canada goose a loss of 13.4 million marka in 2010.

price of the metal in September hit its lowest level in 15 buy canada goose jacket years while Canada Goose Parka the prices for power and raw materials remained the same, he said. loss next year will be inevitable.

He said he expected the Balkan Canada Goose Jackets country top exporter to maintain 2012 output at this year 160,000 tonnes level.

plan to produce 129,000 tonnes of primary aluminium and 30,000 tonnes of finished aluminium products next year, Bradvica said. This is the maximum output under salecanadagooseoutlets canada goose clearance sale existing capacities.

But he said canada goose clearance the smelter, which uk canada goose outlet is the largest producer of aluminium in the Balkans, should complete an upgrade Canada Goose sale of its Canada Goose Black Friday foundry in 2012 which should boost annual output by an canada goose factory sale additional 30,000 tonnes from 2013.

Aluminij signed a 7 million euro ($9.13 million) deal with Austrian firm Hertwich Engineering GmbH to buy a new melting and casting furnace, for which its long time partner Glencore International has provided the banking guarantees.

It has also regained control of its 20,000 canadian goose jacket tonnes per year alumina storage canada goose uk outlet in the buy canada goose jacket cheap Croatian port of Ploce out of canada goose its control since 1992 when the Bosnian war broke out which should help cut transportation costs for raw materials.

POWER PROBLEMS Aluminij Canada Goose online priority is to find a permanent solution for its power supplies, Bradvica said. The company was paying too canada goose store much for electricity and the state should subsidise prices for strategic companies, he said.

He said cheap Canada Goose that gasification of the smelter will be completed by canada goose black friday sale the Canada Goose Outlet end of December, and that Aluminij has finalised the project documentation for the refurbishment of its 200 kilowatt power sub station.

Bradvica said that he expected canada goose uk shop exports, which were up by more than 20 percent this year, to continue to rise canada goose coats next year.

He said that privatisation of the smelter, delayed for years, would not proceed Canada Goose Coats On Sale before the company canada goose uk black friday settles its ongoing ownership dispute with a regional government.

A 2007 agreement between the government of Bosnia Muslim Croat federation and Aluminij to set ownership stakes in the company at 40 percent each has expired and Bradvica said the deal is no longer valid.

Croatian company TLM owns a 12 percent stake in Aluminij and small shareholders the rest. ($1 = 0.7664 euros) (Editing by Jon Loades Carter and David Cowell).