The insurmountable energy price has hit another European aluminium company – Speira GmbH. On Wednesday, September 7, Speira, a Germany-based global aluminium company, has announced its decision to reduce 50 per cent of its aluminium production at Rheinwerk smelter in Neuss until further notice. Going ahead, the company will cut its output to 70,000 tonnes of primary aluminium per year.
The production curtailment process will start in early-October 2022 and is likely to be completed in November. Speira has planned to meet the future demand with external metal supplies in place of its in-house metal.
Speira CEO Einar Glomnes commented, “We are facing similar challenges as many other European aluminium smelters. Energy prices have reached too high levels over the last months, and we don´t foresee those to fall in the short-term future. This development requires us to curtail 50% of our smelter production until further notice to sustain value for Speira.”
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Speira was once a part of Norsk Hydro and later on was sold to KPS Capital Partners. It manufactures aluminium suitable for a myriad of industries such as automotive, beverage can, architecture & construction, shipbuilding & transport, and packaging.
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