Alumetal starts production in Hungary

Alumetal, a manufacturer of secondary aluminium casting alloys, has launched production at the fist mill line of its new facility in Hungary, the company informed in a market filing. The first unit has a capacity of 36,000 metric tons, which amounts to 60 percent of the total planned capacity for the factory. The second mill line will be set in motion in Q4 2016, the company said. Capital expenditures will likely run over the PLN 120 million budget by some 3.5 percent, in line with prior signals in the H1 report, a statement read. Capital group Alumetal is the leading company in Poland in its sector and the fourth in Europe. It has been listed on the Warsaw Stock Exchange since 2014.