Alro – Update on potential secondary public offering

Thu, 06/30/2011 - 22:03

Bucharest, 1 July 2011 – Alro SA (BSE: ALR, “Alro” or the “Company”), one of the largest aluminium producers in Central and Eastern Europe, today announcesthat it has been informed of the decision of its majority shareholder Vimetco N.V. (“Vimetco”), together with its minority shareholder, Conef S.A., that they have chosento postpone the secondary public offering of the ordinary shares of Alro on the Bucharest Stock Exchange, due to current adverse market conditions. Vimetco believes it is not in the best interests of Alro or its shareholders to proceed with an SPO at this point in time.


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Notes to the Editors:

Alro is a subsidiary of Vimetco, a global, vertically-integrated primary and processed aluminium producer. Alro is one of the largest aluminium producers in Central and Eastern Europe measured by primary aluminium output, with an installed production capacity of electrolytic aluminium 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). The Company also exports to the US and Asia. Alro is ISO 9001 certified for quality management, is accredited by the National Aerospace and Defense Contractors Accreditation Programme(NADCAP) and has EN 9100 certificates for aerospace production organizations; its products meet the quality standards for primary aluminium on the London Metal Exchange (LME), as well as international standards for flat rolled products.