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Press Metal Loses RM150 Million Revenue
  • Press Metal‘s smelting plant had a three-week production halt last month due to a fire and it may have cost the company up to RM150 million in lost revenue.
  • The production half led to an output loss of around 60,000 to 80,000 tonnes for the company and will take the company some time to ramp up production to full capacity, as it stands at 440,000 tonnes currently.
  • The third phase, which has a capacity of 320,000 tonnes, will bring the company’s upstream contribution to more than 90 percent of group revenue.

Significance: Press Metal’s third phase of its smelter at Samalaju Industrial Park will be complete by year-end and hopefully be running at full capacity by 1Q16.

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