SINGAPORE United Co.
Rusal has revised its 2012 net loss to $337 million from the
previously announced $55 million due to the "material adverse
impact" of MMC Norilsk Nickels weak 2012 performance.
Moscow-based Norilsk, in which
Rusal owns a 27.8-percent stake, saw its full-year net income
tumble 41 percent to $2.1 billion following a $976-million
noncash write-off in 2012 (
amm.com, April 15).
Rusal also revised its 2012 loss
before income tax to $311 million from the previously stated
Announcing its full-year results
earlier in March, Moscow-based Rusal attributed its loss to low
prices and "particularly challenging" markets, noting that it
would curtail 300,000 tonnes per year of capacity in 2013 (
amm.com, March 4).
A version of this article
was first published by AMM sister publication Metal