Aluminium industry takes a first-quarter hit

A weak automobile market has put a dent in figures for Switzerland's aluminium manufacturers who say business in early 2009 slipped 40 per cent.

This content was published on May 11, 2009 - 11:25

The Swiss Aluminium Association announced on Monday that factories processed 3,700 tons of light metal in the first quarter compared to 6,100 tons for the same period last year.

The die-casting sector, which is closely tied to the struggling automobile industry, was hit particularly hard, the association said.

The figures show that the industry has slipped further into a recession that began in mid-2008. Global orders for rolling mills and presses slipped 5.8 per cent to 166,400 tons compared to a record year in 2007.

Most of Switzerland's aluminium is exported, largely to the European Union. But domestic use in 2008 also appears to have slipped about four per cent to 183,800 tons compared to the previous year.

As a result, producers have had to layoff workers and cut back on hours. Industry experts say they do not expect business to turnaround until 2010 at the earliest. with agencies

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Sort by

Change your password

Do you really want to delete your profile?

Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Discover our weekly must-reads for free!

Sign up to get our top stories straight into your mailbox.

The SBC Privacy Policy provides additional information on how your data is processed.