Bonnell Aluminum cuts 2020 aluminum shipment guidance
2020-05-13 08:41:25 [Print]
Bonnell Aluminum has reduced its 2020 shipment guidance for aluminum extrusion by 14% as its plants have been impacted by layoffs and lower demand in key end-markets amid the COVID-19 pandemic, parent company Tredegar said Monday.
Tredegar said Bonnell Aluminum now planned total aluminum sales volume to reach only 173 million pounds in 2020, down from original expected volume of 201 million pounds. The company sold 208 million pounds of aluminum products in 2019.
Tredegar said Bonnell Aluminum's plants in Niles, Michigan, and Elkhart, Indiana, were most severely impacted by the pandemic. Over 80% of the aluminum extrusions produced at these facilities serve customers in the consumer durables, building and construction and automotive markets, Tredegar added.
Due to pandemic-related market conditions, Tredegar said employee layoffs were implemented at various Bonnell plants as their operations were adjusted.
Bonnell Aluminum's aluminum shipment volume decreased by 11.7% YOY to 47,317,000 pounds in Q1.
Tredegar said Bonnell Aluminum now planned total aluminum sales volume to reach only 173 million pounds in 2020, down from original expected volume of 201 million pounds. The company sold 208 million pounds of aluminum products in 2019.
Tredegar said Bonnell Aluminum's plants in Niles, Michigan, and Elkhart, Indiana, were most severely impacted by the pandemic. Over 80% of the aluminum extrusions produced at these facilities serve customers in the consumer durables, building and construction and automotive markets, Tredegar added.
Due to pandemic-related market conditions, Tredegar said employee layoffs were implemented at various Bonnell plants as their operations were adjusted.
Bonnell Aluminum's aluminum shipment volume decreased by 11.7% YOY to 47,317,000 pounds in Q1.
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