Oman-based National Aluminium Products Company (Napco), a leading extruder of aluminium in the GCC, said it has achieved OR4.8 million ($12.4 million) in revenues during the first quarter ending on March 31.

The company reported a net profit of OR141,000 ($366,233), said a statement from Napco.

Napco has invested in two new extrusion press machines to bolster its production, with one already in operation while the fourth press still in its trial phase and will be operational by end of this month, it added.

The company has also acquired a vertical powder coating line, a new technology that will create new products while it improves efficiency, save on cost, as well as ensure environmental sustainability, it said.

Robert Holtkamp, chief executive officer of Napco, said: “The aluminium industry faces several market challenges such as fluctuating interest rates, increased corporate tax and energy prices.”

“Despite these challenges, our company has remained steadfast in ensuring its production processes are delivering more quality products to its customers. We expect that the second quarter will deliver better results as we take on a proactive role to increase the value of our products across all markets,” he added. – TradeArabia News Service