Alro announces new CFO and member of the Board of Directors

Mon, 02/18/2013 - 11:19


Slatina, 18 February 2013 – Alro SA (BSE: ALR) (“Alro”, “the Company”), the largest aluminium producer in Central and Eastern Europe, today announces the appointment of Genoveva Nastase as Chief Financial Officer of the Company and of Ioana Racoti as temporary member of the Board of Directors. The nominations came after the resignation of Svetlana Pinzari from the two respective positions, due to family reasons.

Genoveva Nastase was previously Financial Director at Vimetco Management and worked as a deputy CFO at Alro for over seven years, from 2002, until 2009. She has extended experience in Corporate Finance, Financial Modelling & Analysis and Financial Reporting areas. She holds a bachelor’s degree in Economics from the Romanian Academy of Economic Sciences.

Ioana Racoti is a partner in the Zamfirescu, Racoti, Predoiu Law firm, assisting Alro as a legal consultant in various matters for more than 10 years and has previously held this position in the Board as well.

“We are welcoming the appointment of Genoveva into the CFO position of Alro, and we are confident she posses both the expertise and the necessary knowledge to help us further consolidate our financial position and implement the new accounting standards”, Marian Nastase, President of the Board of Alro said.“She is well familiarized with the major developments in Alro’s activity, from her position of financial director in Vimetco Management and we are confident she will succeed in pursuing the long-term strategy of the Company, that will suffer no changes. I would, also, like to express the Board’s and my own appreciation to Mrs. Svetlana Pinzari for her many years work in the position of CFO, and tothank her for all her hard work and commitment during the long time she was with us.”


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Notes to the Editors:

Alro is subsidiary of Vimetco N.V., a global, vertically-integrated primary and processed aluminium producer. Alro is the largest aluminium producer 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.

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