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While other Latin American countries are going through the throes of privatisation, Argentina's primary aluminium industry - already in the private sector - is busy expanding. The Aluar smelter at Puerto Madryn is building its third potline together with captive power plant to lift out put capacity to 257 000r/y tor the year 2000.
Founded at the beginning of the 1970s, Aluar is Argentina's sole primary aluminium producer. A public company, Aluar's shares are quoted on the Buenos Aires Stock Exchange, and the majority shareholder is the Madanes Quintanilla family. The idea for producing primary aluminium in Argentina has its origins in the early 1970s, with Fate, a tyre manufacturing company belonging to the same industrial group.
The smelter, located in the region of Patagonia on the coast of the New Gulf - Puerto Madryn, Province of Chukut - 1400km to the south of the City of Buenos Aires, manufactures 18500Ot of metal per annum. The Aluar installation in this area contributed substantially to the creation of a major centre of regional development. As a result of this the population of Puerto Madryn increased from just over 6000 inhabitants in 1970 to 45000 inhabitants at the present time.
To develop its industrial activity as a producer of primary aluminium, the company employs just over 830 people, whilst its commercial and administrative divisions close to Buenos Aires employed 130 people in June 1996. With a net worth of over $466M, the total value of its assets, valued in mid 1996, amounted to a little over $646M.
MARKETS
During the 12-month period ending 30 June 1996 the company's sales amounted to $371 M. Aluar supplies the entire domestic market...