China’s Aostar Aluminum Co. will suspend 30 percent of its aluminum production capacity starting from today to conduct maintenance and repairs, its parent Guangdong Golden Horse Tourism Group Stock Co. said.
“The production cut won’t have a big impact on the earnings of the listed company,” said the parent in a filing to the Shenzhen Stock Exchange today. Resumption of the 50 shuttered electrolytic cells will depend on the market and whether the timing is beneficial, according to the statement.
Guangdong Golden Horse Tourism Group said in April it planned to sell its 40 percent stake in the aluminum smelter located in Sichuan province. Aostar has an annual aluminum production capacity of 250,000 tons, according to the company profile on its website.
--Helen Sun. Editors: Richard Dobson, James Poole.
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