Revenues from the Brazilian operations of Montreal-based Alcan declined 17 percent in the first quarter to $93 million, compared to $112 million the same time last year.
Revenues from sales of primary aluminum produced in Brazil increased to $11 million last quarter from $10 million in the same three months of 2001, while sales of flexible packaging material and rolled products fell from $21 million to $15 million and $81 million to $67 million, respectively.
Worldwide, Alcan posted a profit of $86 million for last quarter, down 37 percent from $135 million in the first three months of 2001. Global sales also fell 10 percent to $2.9 billion in the same year-on-year comparison.
This year Alcan forecasts its primary aluminum production in Brazil will reach 316,000 tons and revenues from all its operations in the country will come in at $463 million.
The company has slated $100 million for Brazilian investments in energy projects, developing new products, boosting recycling capacity from 80,000 tons per year to 120,000 tons per year, and expanding bauxite mining unit MRN, in which it has a 12 percent stake.