Venezuela
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Venalum sees US$94mn profit

Bnamericas Published: Saturday, June 28, 2003
Venezuelan aluminum smelter Venalum predicts it will post a profit of 150bn bolivares (about US$94mn) this year, local newspaper El Universal reported. Last year Venalum, 80% owned by the state and 20% by a consortium of Japanese trading companies, made a profit of 17.5bn bolivares, its first net earnings in five years. The Puerto Ordaz smelter, the largest in South America, produced a record 436,558t of aluminum last year.

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