Alro, a unit of Dutch-based Vimetco, said the project benefited from RON17.18 million in nonrefundable co-financing from the European Union and was carried out between March 2011 and September 2013.
“Through this program, we are able to consolidate and improve our position in the international markets, following the diversification of the company’s portfolio for high added-value products”, said Gheorghe Dobra, Chief Executive of Vimetco and General Manager of Alro Slatina.
Alro’s core aluminum facilities are located in Slatina, southern Romania, and comprise a smelter and processing facilities, including a cast house, hot and cold rolling mills and an extrusion shop. The company also owns Alum S.A., an alumina refinery based in Tulcea locality.
Vimetco controls 84.19% of Alro’s shares, while the remaining shares are distributed among various holders.
At around 12:30 pm, Alro’s shares were trading up 1.92% at RON1.539 in Bucharest, valuing the company at RON1.07 billion. (EUR1=RON4.4635)