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A Bullish Middle East Aluminum Industry
Industry Segment: Metals & Minerals | Word Count: 542 Words
SUGAR LAND--August 11, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--High energy costs are cutting the bottom line of many companies, especially energy-intensive industrial sectors such as the aluminum production industry. Energy costs account for one-third of aluminum production costs, and naturally, aluminum producers gravitate toward areas where there is a cheap supply of natural gas. The Middle East is fast becoming the destination of choice, causing the aluminum industry in the area to grow into a multi-billion industry. Aluminum (mostly metal castings) is used in vehicles for hundreds of automotive components ranging from wheels to engines. Automobile manufacturers such as General Motors (NYSE:GM), Ford Motor Company (NYSE:F), Nissan Motor Company (NASDAQ:NSANY), BMW AG, Chrysler and Audi AG (FRA:NSU) are taking great strides in incorporating more aluminum products. These manufactures obtain their feedstock from the aluminum producers who are now investing heavily in the Middle East.
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