Kaiser Aluminum, a US-based aluminum producer, reported its net sales were around US$1.17 billion in 2020, sliding by 22.5% compared to the previous year. The value-added business income was US$697 million, a year-on-year decrease of 18.6%.
The decline was due to the COVID-19 epidemic, which led to a drop of 20% in Kaiser Aluminum's shipments in the aerospace and high-strength application sectors in the second half of 2020.
According to Kaiser Aluminum, due to the increased demand from the automotive, national defense, and general engineering industry, the firm is committed to increasing its value-added business income by 5% to 10% year on year this year.
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