July 2006 will see the first plates sold into the market produced in Hulett Aluminium's expanded heat treated plate facility, two and a half months ahead of schedule, on budget and with scope for further expansion.
In July 2005, the Hulett Aluminium board approved the expenditure of R54 million for the expansion of its heat treated plate facility at the Camps Drift site in Pietermaritzburg. Heat treated plate is used extensively in the aerospace and semi-conductor industries as well as in technically demanding engineering and tooling applications. Hulett Aluminium, with its M61 and M82 brands, is considered to be a leading global manufacturer of the product and has significant market share in the world's most demanding markets, the USA, Western Europe and Asia.
The current project included the installation of additional heat treatment and ageing furnace capacity and cooling chambers, as well as an extension of the plate plant building. Once in full production, this additional capability will enable Hulett Aluminium to increase its sales of heat treated plate by approximately 50%.
The board of the Tongaat-Hulett Group announced in February this year that it will unbundle its 50% interest in Hulett Aluminium to Tongaat-Hulett shareholders, resulting in the listing of Hulett Aluminium on the Johannesburg Stock Exchange and plans to introduce BEE shareholding in the company.
