HULAMIN, South Africa’s manufacturer of specialised rolled aluminium products, based in Pietermaritzburg, KwaZulu-Natal, announced yesterday that it had resumed operations after unrest gripped the country last week.
The company had suspended operations on Monday, July 12.
In an update yesterday, the group, which supplies a significant portion of the world’s ultra-high-end aluminium products for precision and high technology applications, said its property loss had been limited to the theft of a few small non-critical items and minor damage to infrastructure.
The group said it had resumed operations on Friday, July 16, following the abatement of the unrest.
“A sense of calm prevails as Pietermaritzburg gradually returns to normal. The company acknowledges and appreciates the efforts made by government and the security cluster in restoring law and order, and extends its gratitude to employees and community members for their contribution and support to local clean-up operations,” it told shareholders.
Hulamin reported in April that the Covid-19 outbreak caused a major disruption to its operations, as sales volumes declined by 24 percent to 166 000 tons in the year to the end of December.
Group turnover fell by 20 percent to R8.55 billion, while its headline loss improved to R210 million compared to R240m reported last year, despite stronger prices at the London Metals Exchange, which had climbed to $2 018 (R29 375) a ton, up from $1 770 a ton a year earlier.
BUSINESS REPORT