Hulamin Says BHP Billiton To Continue Billet Supplies
June 30 2009 - 6:50AM
Dow Jones News
South African aluminum producer Hulamin Ltd. (HLM.JO) Tuesday
said BHP Billiton Ltd. (BHP) has agreed to continue supplying
extrusion billet until September and rolling slab until December
2010.
"Hulamin is assessing a number of options to ensure that its
future requirements in respect of extrusion billet and rolling slab
are satisfied, and that its growth plans are not affected," it
said.
The company sources about half of its billet and 30% of its
rolling slab from BHP Billiton's Bayside cast house and produces
the balance in its own facilities.
Hulamin in April issued a cautionary statement to the
Johannesburg bourse saying it was in undisclosed discussions with
BHP that could affect its share price.
Bayside, which operates in the South African port city of
Richards Bay and has been operating since 1971, produces aluminum
billet, slab and rod.
At 0920 GMT, Hulamin's shares were trading 0.1% lower at 11 rand
amid a mildly positive broader market. The stock has fallen almost
17% this year.
Company Web site: www.hulamin.co.za
-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848;
robb.stewart@dowjones.com