The banks syndicate included Exim Banca Românească, Banca Comercială Română, OTP Bank România, CEC Bank, UniCredit Bank, Alpha Bank România and Banca Transilvania, was legally
advised by Nestor Nestor Diculescu Kingston Petersen and White & Case, while ALRO was legally counselled by Simmons & Simmons and Zamfirescu Racoți Vasile & Partners.
“ALRO continued to activate in a very challenging economic environment, characterised by high input costs and a lower demand for some aluminium products. However, we took advantage of our strong position in the high and very high aluminium products market, we focused on increasing the efficiency of our operations and on cost reduction, and succeeded in maintaining our position internationally”, said Marian NĂSTASE, Chairman of the Board, ALRO.
“The extension of the loan facility, under the coordination of Exim Banca Românească and with a syndicate of strong financial institutions, comes as a confirmation that ALRO’s long-term development programme is able to support our business continuity and our position at international level. We would like to extend our gratitude to the teams that undertook the negotiation process, Exim Banca Românească, the banks syndicate and the law firms that represented all parties,” added Genoveva NĂSTASE, Chief Financial Officer of ALRO.
Over the past 20 years, ALRO Group has invested over USD 885 million in state-of-the-art technology, in increasing operational efficiency and in environmental protection programs. These investments have
led to the diversification of the product portfolio, focusing on those with high and very high added value, and to the reduction of the environmental footprint at the level of the entire Group.
Alro Slatina, with a market value of RON1.1 billion, is 5.2%-owned by Vimetco Plc, 23.2% by Paval Holding, and 10.2% by Fondul Proprietatea. ALR shares have traded 2.2% lower so far in 2023, amid deals worth RON11.8 million, as per stock market data.
Alro reported RON2.24 billion consolidated turnover for the first nine months of 2023, down 21% from the year-earlier period, and RON394 million net losses, against RON109.5 million losses in 2022, as per data from the company’s quarterly financial report.