Alro took note of Hidroelectrica’s legal action against the Company

Fri, 05/15/2015 - 20:08

Slatina, 15 May 2015 – Alro S.A. (BSE: ALR, “the Company” or “Alro”), one of the biggest aluminium producers in Central and Eastern Europe, took note of the legal civil action at the Bucharest Court of Law, brought by Hidroelectrica, regarding the material claim of the electricity producer, representing alleged unattained benefits from the bilateral contract with Alro. The total pretended value of the counts, as determined by Hidroelectrica, is of approximately RON 147 million.

The Company considers the demand as ungrounded, and analyses the formulated complaint, in order to formulate its defense strategy.

For further information please contact:

www.alro.ro

Florenta Ghita

Premium Communication

Bucharest

Phone +40 (0) 21 411 01 52

Email florenta.ghita@premiumpr.ro

 

 

Notes to the Editors:

Alro is subsidiary of Vimetco N.V., a global, vertically-integrated primary and processed aluminium producer. Alro is one of the largest aluminium producers in Central and Eastern Europe measured by volume with an installed production capacity of 265,000 tonnes per year.

The main markets for the aluminium manufactured by Alro are within the EU (Hungary, Poland, Greece, Germany and Romania). Alro also exports to the US and Asia. Alro is ISO 9001 certified for quality management and has NADCAP as well as EN 9100 certificates for aerospace production organizations. Alro’s products adhere to the quality standards for primary aluminium on the LME, as well as international standards for flat rolled products.

The contents of the website www.alro.roare not incorporated into, and do not form part of, this announcement.