Aluar increased its profit by 66%

Argentine aluminum company Aluar Aluminio Argentino in the IV quarter of 2010 compared with the same period in 2009 increased its profit by 66% to 166 million pesos (41.3 million dollars). This was stated in the concern, according to Metal Bulletin. A year earlier the figure was estimated at 100 million pesos. Nevertheless, the III quarter profit Aluar was higher and reached 197 million pesos. In addition, the corporation added that soon the power of enterprise Aluar Puerto Madryn to grow to 460 thousand tons. This will be possible thanks to the commissioning of 48 new electrolytic cells. Recall that Aluar Aluminio Argentino in the fiscal year that ended June 30, 2010, a net profit of 469.6 million pesos (119 million dollars). The Argentine company Aluar Aluminio Argentino is the nation's largest producer of winged metal. Its main owner is a family Madanes Quintanilla, which controls 70% of the shares. Private investors control another 25% stake. Ministry of Industry