Characteristics of business operation in 2009 |
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Annual reports |
- Global economic crisis is even worse than predicted by pessimists. However, the crisis has not affected all the countries or branches of economy to the same extent. Obviously, the demand for certain vital products has shrunk or it is nearly completely inflexible while for others this decrease is not so substantial.
- Major aluminium consumers are the production of means of transport and construction. Decreased volume of production and sale in those two branches of economy has led to substantial decrease in the demand for aluminium. Consequently, its real price has been falling (in euros), stocks have been increasing, the volume of production decreasing, redundancies, alumina and aluminium production plants have been closing down. Particularly in Europe there is no light at the end of the tunnel.
- In TALUM we spent year 2009 in accordance with the situation, mainly thanks to rapid and decisive measures taken in the field of adapting the volume of production and cost cutting. Due to unfavourable economic situation the volume of primary aluminium production in potline was reduced to as low as 41% of full capacity, the production of goods amounted to only 68% of the production in 2008, which had been reduced in comparison with previous years anyway due to the closure of potline B. In addition, the volume of remelting services for foreign customers, the volume of services, hired on the market and the number of employees were also reduced. In this way we managed to slow down the intensity of operation loss occurrence and keep what is the most important in such times - sufficient liquidity.
- The measures taken will make the path, started in 2009, a little easier. We have got used to a smaller volume of production and operation and it is not such a shock anymore as it was one year ago. In 2010 potline production will remain halved and everything will be prepared for switching on the second half when the situation improves. Unfortunately, no such improvement is expected in 2010.
- Next year the Company will be reorganised as it is the periods of crisis which show all the organisation weakness, incurred in a relatively long period of rather stable growth and development.
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