Slovenia's Talum sees 2009 loss of 32 mln euros

LJUBLJANA, June 19 (Reuters) - Slovenia's aluminium smelter Talum said on Friday it expects 2009 net loss of 32 million euros ($44.55 million) after a small profit in 2008. Talum, which had a profit of 0.4 million euros in 2008, said it had cut 2009 production plan to 122,400 tones from 129,425 tones produced last year due to lower global demand. Sales are seen 29 percent down at 205 million euros. "The falling demand and consequently low prices of aluminium demanded a cut in production," Lidija Hazabent of Talum's planning and production department told Reuters. She said the cuts are going to stay in place until world supplies of aluminium fall and demand starts to rise again. Hazabent also said the company, which exports mainly to Italy, Germany and Switzerland, plans no takovers in 2009. The Slovenian government and its investment funds own 85.8 percent of the company. The government attempted to sell the stake in 2003 but scrapped the privatisation plan after being unsatisfied with the bids.