Brazilian foundry output in2007 up by 4.5% YoY
BNamericas reported that output from the Brazilian foundry industry increased by 4.5% YoY in 2007 to 3.23 million tonne compared to 3.09 million tonne in 2006. Shipments to clients outside Brazil totaled 710,900 tonne in 2006 and were worth USD 1.37 billion.
Mr Devanir Brichesi president of local industry association Abifa told BNamericas that "We saw a record in production in December. Compared to the same month of 2006 there was an increase of 16%, which improved our performance for full year 2007."
Mr Brichesi had forecast in a late 2007 interview that production would grow 3.7% over the previous year. However, the local foundry sector's revenues saw a much smaller increase last year at USD 6.10 billion compared to USD 6 billion in 2006. He added that the sector saw a 4.5% decline in physical sales to markets abroad and a 1.7% drop in export revenues.
Mr Brichesi said that the outlook is positive for this year, adding the sector will continue to see strong demand from the foundry sector's main client, the automobile industry. He added that "I believe the foundry sector could grow by 7.5% or more in 2008."
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