Alro Acknowledges Hidroelectrica’s Legal Action
Fri, 05/15/2015 - 20:06
Slatina, May 15, 2015 – Alro S.A. (BVB: ALR, “the Company” or “Alro”), one of the largest aluminum producers in Central and Eastern Europe, has acknowledged the civil lawsuit initiated by Hidroelectrica at the Bucharest Tribunal, related to material claims made by the electricity producer, representing alleged unrealized benefits from the bilateral contract with Alro. The total value of the claims, as determined by Hidroelectrica, is approximately 147 million RON.
The company considers the claim to be unfounded and is currently reviewing the complaint in preparation for its defense strategy.
For more information, please contact:
Florenta Ghita
Premium Communication
Bucharest
Phone: +40 (0) 21 411 01 52
Email: florenta.ghita@premiumpr.ro
Note for Editors:
Alro is a subsidiary of Vimetco N.V., a global producer of primary and processed aluminum, vertically integrated. Alro is one of the largest aluminum producers in Central and Eastern Europe, with an installed production capacity of 265,000 tons per annum.
The main markets for Alro's products are the European Union (Hungary, Poland, Greece, Germany, and Romania). The company also exports to the USA and Asia. The plant is certified with ISO 9001 for quality management and holds NADCAP and EN 9001 certifications for its aerospace production units, with its products meeting the quality standards for primary aluminum set by the London Metal Exchange (LME) as well as international standards for flat-rolled products.