En+ sales fall as pandemic prompts drop in aluminium demand
The global leaders in aluminum production saw sales of the metal fall 7.1 per cent in the fourth quarter, signaling a 6 per cent yearly drop.
En+ Group says the coronavirus pandemic and the collapse of the global economy played a significant role in the fall in demand.
Vladimir Kiriukhin, CEO of En+ Group, said: “In early 2020, the magnitude of destructive impact of the coronavirus pandemic across the world was impossible to predict.
“The pandemic affected all sectors of the economy and all areas of activity, from manufacturing to logistics, as well as many human lives.”
The Anglo-Russian energy and mental company has performed resiliently despite the economic difficulties in 2020, with value-added product sales rising by 11 per cent.
Kiriukhin added: “Despite the challenges brought on by the pandemic, En+ Group has remained resilient, demonstrating the sustainability of its business model, the talent of our management team as well as skill and selfless dedication of our employees.”