“Having successfully implemented our energy projects over the past six years, we managed to cut costs by increasing operating efficiency. Additionally, the lower consumption per ton of aluminum helped us to partially offset an increase in energy prices,” said Gheorghe Dobra, chief executive officer of Vimetco, majority shareholder in Alro.
Alro’s energy efficiency program targeted both the primary and processed aluminum production processes, as well as the alumina refinery, the company said in a statement.
“The program allowed Alro to increase its output from 240,000 tons of primary aluminum in 2005, to the peak of 288.000 tons of primary aluminum in 2008, without a significant increase in energy consumption,” the statement noted.
Dutch-based Vimetco controls 84.18% of Alro’s shares, while the remaining shares are distributed among various holders.
Last year, Vimetco delayed a planned secondary offering for a 21% stake in Alro until an unspecified date, citing unfavorable market conditions.
On the Bucharest bourse Wednesday, Alro closed up 0.06% at RON3.227 a share.