AZF of Kazakhstan to increase production of ferroalloys up to 727 thousand tons in 1999

/IRBIS, Dec.14, 99/ - REUTERS informs, with the reference to the representative of the company, that Aksuskii zavod ferrosplavov (AZF) plans to increase the production of ferroalloys up to 727 thousand tons from 540,000 tons last year. "In eleven months of this year 662,230 tons of ferroalloys were produced, last year production reached 484,000 tons", said the representative. It has been said earlier by the director of the plant, that production of AZF had been affected by an improvement of world market conjuncture, which allows the company to vary different brands of ferroalloys depending on the demand. Production of all ferroalloys grew from the beginning of this year. For example, ferrochromium rose by 30.3%, ferrosilicon - 57.6%, ferrosilicomanganese - 36.6%. Balance sheet profit of the company reached 13.54 bln tenge in eleven months of 1999, and figures of last years were negative, said the representative. The plant began to use its own funds rather than external financing. Tax payments reached 4,098 bln tenge this year against 1,009 bln tenge last year. Aksuskii ferrosplavnyi zavod, located in Pavlodar region, with Aktyubinsk ferrosplavnyi zavod and Doskoi GOK are the members of transnational company Kazchrome, which is under the control of Eurasian bank.