Maaden to start commercial operations at rolling mill
Maaden is set to commence commercial operations at Maaden Rolling Company (rolling mill) today, according to a company release. The plant was designed to produce 380ktpa of aluminium flat rolled products. The commercial startup is set to be reflected in 4Q18 financial results. Maaden Rolling Company is 74.9% owned by Maaden and 25.1% owned by Alcoa.
Maaden: SAR50.20 as of 6 Dec. 2018, Rating: Neutral, TP: SAR47.00/share, MCap: USD15,642mn, MAADEN AB/1211.SE
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