Alro has completed a 43.6 million lei investment to increase competitiveness
Thursday, 26/09/2013 - 09:39
- The European Regional Development Fund co-financed the program
- The total value of the non-reimbursable loan from the EU is 17.18 million lei
Slatina, September 26, 2013 – Alro SA (BVB: ALR, “the Company” or “Alro”), one of the largest aluminum producers in Central and Eastern Europe, has completed a 43.6 million lei investment to enhance the Company’s competitiveness. The program, launched in March 2011, was completed in September 2013. Alro signed an agreement with the Ministry of Economy for the Sectoral Operational Program “Increasing Economic Competitiveness.” The project, co-financed by the European Union, aimed at strengthening and modernizing the production sector through the acquisition of finishing equipment for aluminum sheets and strips. It aims to ensure sustainable and durable development, as well as increasing competitiveness. The total value of the non-reimbursable loan from the EU was 17.18 million lei.
“By implementing this program, we can strengthen and improve our position in the international market, resulting from the diversification of the portfolio for high value-added products,” said Gheorghe Dobra, CEO of Vimetco and General Manager of Alro Slatina. “The state-of-the-art equipment allows us to continue our long-term development strategy. Additionally, it increases the Company’s efficiency, ensuring the foundations for sustainable development.”
In accordance with the project, Alro acquired finishing equipment for aluminum sheets and strips, a stretching planing line, a cutting line, and an automatic packaging system, a slitting line, and an automatic packaging system. The project was implemented in Slatina over a period of 32 months. The program aimed for a positive impact on Alro Slatina’s operations, contributing to high added value, creating new jobs, and targeting new customers through a diversified product range.
This year, the Company continued to invest in expanding production capacity for high value-added products, recording an increase in processed aluminum deliveries. At the same time, the Company continued to invest in aluminum waste processing to reduce energy costs (generated by taxes imposed on energy consumption – green certificates, cogeneration tax, etc.).
For more information, please contact:
Florenţa Ghiţă
Premium Communication
Bucharest
Phone: +40 (0) 21 411 01 52
Email: florenta.ghita@premiumpr.ro
Note to editors:
Alro is a subsidiary of Vimetco N.V., a vertically integrated global producer of primary and processed aluminum. Alro is one of the largest aluminum producers in Central and Eastern Europe, with an installed production capacity of 265,000 tpa.
The main markets for Alro’s products are the European Union (Hungary, Poland, Greece, Germany, and Romania). The Company exports to the USA and Asia. The plant is ISO 9001 certified for quality management and holds NADCAP and EN 9100 certifications for its aerospace production units. Its products meet the quality standards for primary aluminum of the London Metals Exchange (LME), as well as international standards for flat-rolled products.
The content of the website www.alro.ro is not incorporated and does not form part of this announcement in any way.