The project aims to develop programs in the aluminum processing industry for long-term unemployed people in the north-east, north-west, center, south and Bucharest -Ilfov areas, the company said in a statement to the Bucharest Stock Exchange Wednesday. The project will be implemented in 18 months.
The financing contract was signed Tuesday.
The Romanian aluminum processor is part of Greek group Alumil, which owns 55.9% of the shares, while the Romanian company’s general manager and president Michail Sotiriou owns 23.9%.
The company’s sales rose 4% to RON71.3 million in 2013, from RON68.5 million a year earlier and its profit dropped to RON1 million from RON3.1 million in 2012.
Alumil announced last week it proposed the payment of dividends for the first time in four years, totaling RON20 million from the previous years’ profits.
Alumil shares dropped 3.78% Wednesday, to RON1.376, as investors marked profit following four consecutive trading sessions when shares increased nearly 61% following dividend proposals.