Brazilian metals producer Termomecanica's aluminum products output increased to 35t/m following the ramp-up of a new line, and the company said in a statement it expects to reach the 500t/y mark by the end of the year.
The increase comes after a 27mn-real (US$8.46mn) investment in the line at its manufacturing facilities in São Bernardo do Campo, São Paulo state.
Production is expected to grow gradually to 1,000t/y during 2018 when the second phase of the project will be underway and new equipment will be in operation.
Once the second phase is consolidated, capacity could reach 19,000t/y under normal conditions, the company said in a release.
"In the long term, over the next three years, we expect to reach something around 20,000t/y. This all shows that the investments in this new line happened at the right time, in which the Brazilian economy begins to show the first signs of recovery," Termomecanica commercial and marketing manager Paulo Cezar Martins Pereira said.
The company reported 1.10bn reais in gross profits in 2016 and is forecasting a 10% market share increase this year.
With three plants, Termomecanica ranks among the largest Brazilian manufacturers of finished and semi-finished non-ferrous metal products.