NZ Aluminium Smelters halts $70M of capital spending

Mon, 29 Oct 2012

Oct. 29 (BusinessDesk) - New Zealand Aluminium Smelters, which operates the plant at Bluff, has halted $70 million of planned capital spending, citing “extremely challenging” market conditions that have eroded margins. The change affects $15 million planned for the remainder of 2012 and 2013 and follows a review of all capital and maintenance spending at the site, it said in a statement. “Given the extremely challenging market conditions, halting project work on site is one of a number of actions being taken to try and return NZAS to viabili...

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