BRITISH ALUMINIUM COMPANY
RECORD OUTPUT THE ordinary general meeting of the British Aluminium Company, Ltd., was held on March 28th at Winchester House, Old Broad Street, E.C.
Mr. R. W. Cooper, M.C., the chairman, who presided, in mov- ing the adoption of the report and accounts, said that the profit amounted to £909,851, showing an increase of £136,419. That result was consequent upon the output of aluminium of the com- pany and of its subsidiary companies having reached a new high record, coupled with the sale of a considerably larger tonnage. The sale price of ingot aluminium had been reduced by 4 per cent., but prices of rolling mill products had remained steady. As to -heir programme of expansion, the present programme of enlarge- ment of the Lochaber Works was now completed, as also the ,,:xtensions of the Bumtisland Alumina Works. At Newport, Mon- mouthshire, production at the new works was scheduled to com- mence next month. The company, in association with others, was now erecting a rolling mill in Australia, and the board had now decided that the production and rolling of aluminium locally in India, where they possessed fabricating factories, was now war- ranted. In South Wales they had taken participation in a company to produce aluminium, and as to the third and last stage of the civil engineering works at Lochaber, Royal Assent had been given to their Bill. It was anticipated that the production of magnesium through the operating subsidiary of the Imperial Magnesium Cor- poration, Ltd., in which they had a substantial holding, would be commenced in the near future.
The consumption of aluminium for the older established uses had been well maintained, and research and development work was constantly enabling them to introduce the metal in markets in which other materials had previously held a monopoly. The use of aluminium for domestic purposes continued to increase not only for the popular cooking utensil, but for decorative tableware, vacuum cleaners, washing machines, refrigerators, wireless appara- tus and in many other directions where the combination of light weight and restless finish made for ease of operation and main- tenance. The decorative anodic finishes had considerably increased the scope for aluminium in the domestic field.
Dealing with the balance sheet, the chairman said the figures reflected the increase in trading and the capital expenditure to which he had referred. With regard to the current year, demand was likely to be Maintained, if not increased.
The report and accounts were unanimously adopted.
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