• Most Popular
  • Most Shared

Eramet sales rise, sees Indonesian nickel growth

Thu Jan 31, 2008 1:26am EST

Stocks

   

PARIS, Jan 31 (Reuters) - French metals group Eramet (ERMT.PA) said on Thursday its annual turnover for 2007 was up 24.1 percent to 3.8 billion euros ($5.63 billion), above an average analyst expectation of 3.66 billion.

It said it had very strong growth in the fourth quarter of 30.5 percent, with a 53.2 percent increase in turnover at Eramet Manganese.

Given the anticipated demand for the products of its three divisions, Eramet said the outlook for growth in the first half of 2008 was positive.

It added that progress had been made with the Eramet Nickel project at Weda Bay in Indonesia. Eramet expects to double its scale in nickel from 2013, with targeted local production capacity of 60,000 tonnes, almost equal to the current production of Eramet Nickel in New Caledonia. (Reporting by Marcel Michelson; Editing by Paul Bolding)



More from Reuters

Photo

Rajaratnam pleads innocent in Galleon case

NEW YORK (Reuters) - Galleon hedge fund founder Raj Rajaratnam and co-defendant Danielle Chiesi asserted their innocence on Monday to charges of securities fraud, in what U.S. prosecutors describe as the biggest hedge fund insider trading case ever.

» More Top News
Demonstrators protest against the healthcare bill outside the Capitol in Washington December 15, 2009. REUTERS/Kevin Lamarque

Health bill passes crucial test

A sweeping U.S. healthcare reform bill appears headed for passage in the Senate after surviving a middle-of-the-night test vote.  Full Article | Video 

Healthcare Reform
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review