“This is exciting news for Alro. Alro has become a key player in the global aluminium market, with strong heritage, scale and international presence. We have a strong management team, that has worked together for many years with a clear strategy to continue to grow Alro’s presence with major customers across the EU and beyond, and a proven track record of growth and strong cash flow generation,” said Alro board chairman Marian Nastase.
Alro Group is one of the largest vertically integrated aluminium producers in Europe measured by production capacity with operations throughout all major stages of aluminium production. The group consists of upstream and downstream divisions, from the mining and refining of raw materials to the production and sale of primary and processed aluminium products (comprising flat rolled products and extruded products).
The group’s sales and EBITDA in 2017 were RON 2.7 billion (approximately US$ 679 million) and RON 566 million (approximately US$ 140 million) respectively.
“Our vertically integrated model, that means that we have control over every aspect of our production, is a key strength of Alro. We have been actively pursuing a strategy to increase our reach into sophisticated industries which demand processed aluminium that meets very specialized technical standards. We are proud that manufacturers such as Airbus come to Alro for aluminium products that are of the highest quality,” said Alro general manager Gheorghe Dobra.
Vimetco N.V. currently holds 84.2% of the shares in Alro, Conef holds 3.8%, and investments fund Fondul Proprietatea holds 1.2%. The selling shareholders expect to offer shares in Alro to institutional investors and retail investors in Romania, and to eligible investors outside of Romania.