Shares in Greek metallurgy group Mytilineos jumped more than 2 percent yesterday after news it’s subsidiary had signed a 2 billion dollar deal to supply Switzerland’s Glencore with alumina for the next 10 years.
Aluminium SA, a wholly owned subsidiary of Mytilineos, has agreed to supply Glencore, one of the world’s largest suppliers of commodities and raw materials, with alumina, a product used in the production of aluminium.
“The value of the agreement is expected to exceed 2 billion dollars with the quantities involved exceeding 5 million tons,” said Mytilineos in a statement.
The alumina will be exported to European, African and Asian countries.
Shares in Mytilineos, which has a market capitalization of some 921 million euros, ended up 2.60 percent at 7.88 euros, outperforming the Athens bourse’s benchmark general index, which retreated 0.06 percent to 3,394.64 points.
(By KATHIMERINI, 08/01/2008)