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Alumina/Aluminum | Mergers & Acquisitions | Metal Products
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MeneameBrazilian aluminum can maker Latasa posted a net profit of 235mn reais (currently US$67.1mn) for 2002, up 15% over the previous year.
Net revenue increased 20.9% to 1.24bn reais, while Ebitda rose 21% to 333mn reais. The company credits the improvement on the opening of two factories, lower aluminum prices and better cost management.
This year Latasa has a 70mn reais capex budget, of which most will go into a new factory in Manaus, in northern Brazil's Amazonas state.
Latasa will acquire the rest of its subsidiary Latasa Nordeste to streamline operations as well as administrative and financial costs, business daily Gazeta Mercantil reported.
The incorporation is subject to approval from the government since the subsidiary's tax incentives - provided to encourage industrial growth in the northeast region of the country - will be assumed by the parent company, the report said.
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