EximBank finances Alro Slatina with approximately EUR 50 million

Bucharest, 20 January 2014 – EximBank signed financial agreements of approximately EUR 50 million with Alro SA, one of the biggest aluminium producers in Central and Eastern Europe, for financing the current activities and for issuing letters of bank guarantees and letters of credit for the contracts signed by the company.

“The structure of this complex facility for one of the biggest exporting companies in Romania proves that we have a flexible strategy, which allows us to supply competitive financial solutions for the corporate segment, according to the needs of each business partner. The financial agreement of approx. EUR 50 million was signed at the end of last year and is valid for 24 months, but we think it represents a first phase of a partnership, which would be implemented on a much longer term. And this because our main strategic goal is to build a sound win-win relationship with the business environment, by having a contribution in the projects, which could support the sustainable development of the local business environment”, said Traian Halalai, the president of EximBank.

Alro (BSE: ALR) constantly invested the sources generated by the current activity in the continuous upgrading focused on increasing the efficiency of the production process, the quality of the goods manufactured and, also, to consolidate its position on the international markets. The company wants to continue its strategy of increasing the shipments of high added value products. Recently, Alro completed an investment worth RON 44 million to increase the competitiveness, project financed by the European Union.

“The industry where we activate is directly and permanently influenced by internal or external factors, which are beyond our control”, said Marian Nastase, President of the Board of Alro. “Therefore, we have to invest constantly to face the challenges. We implemented new solutions to decrease the costs and we focused on increasing the sales of high added value goods, to maintain the competitiveness. We want to continue our long-term strategy and EximBank offered the financial solutions, which allow us to continue the sustainable development of the company”, added the representative of Alro.

Marian Nastase also added that, except from the financial sector, the collaboration with EximBank would be extended by contributing to the project for establishing the Romanian Association of Exporters (AREX), as founding member.

EximBank has started the setting up of the Romanian Association of Exporters (AREX), a project that aims to help promote the Romanian companies completing international transactions and to consequently reinforce Romanian companies’ presence on the external markets. As the project initiator, EximBank takes upon itself the setup and functionality aspects of the Romanian Association of Exporters (AREX) whereas participation to this project is open to any exported, exclusively of any financial contribution. The establishment procedures for AREX are currently advancing and the association is due to be effective as of this spring.

For more information, please contact:

www.alro.ro

Florenta Ghita
Premium Communication
Bucharest
Telefon +40 (0) 21 411 01 52
Email florenta.ghita@premiumpr.ro
 

About EximBank

EximBank is a specialized institution whose threefold product portfolio focused on financing, guarantee and insurance, enables it to grant assistance to current activities and development of exporters, SME-s and companies involved in projects pertaining to key economic sectors, particularly those contributing to the absoption of EU funds. The Bank has a network of 16 units in Bucharest, Bacau, Brasov, Buzau, Constanta, Cluj, Craiova, Deva, Galati, Iasi, Oradea, Pitesti, Ploiesti, Targu Mures, Timisoara and Sibiu; also, interested companies may access additional information on www.eximbank.ro

About Alro

Alro is a subsidiary of Vimetco N.V., a global, vertically-integrated primary and processed aluminium producer. Alro is one of 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 European Union (i.e. Hungary, Poland, Greece, Germany and Romania). Alro also exports to the U.S.A and Asia. Alro is ISO 9001 certified for quality management and has NADCAP, as well as EN 9100 certificates for aerospace production organizations. Alro 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.