EximBank Finances Alro Slatina with Approximately 50 Million Euros

Monday, 20/01/2014 - 10:32

Bucharest, January 20, 2014 – EximBank has signed financial agreements worth approximately 50 million euros with Alro SA, one of the largest aluminum producers in Central and Eastern Europe, to finance current operations and issue bank guarantees and letters of credit for the company’s contracts.

“This complex facility structured for one of Romania’s largest exporting companies demonstrates our flexible strategy, allowing us to provide competitive financial solutions tailored to each partner's profile,” said Traian Halalai, President of EximBank. The financial agreement, signed at the end of last year, is valid for 24 months. However, EximBank expects this to be the first stage of a long-term partnership focused on fostering sustainable development in the domestic economic environment.

Alro has consistently reinvested the resources generated from its operations into continuous modernization to increase production efficiency, quality, and strengthen its position in international markets. The company aims to continue its strategy of increasing the production of high value-added processed products. Recently, Alro completed an investment of approximately 44 million lei, co-financed by the European Union, to enhance competitiveness.

“The industry we operate in is directly and continuously influenced by both internal and external factors that we cannot control,” said Marian Năstase, Chairman of Alro's Board of Directors. "Therefore, we must continually invest to face emerging challenges. We have implemented new cost-reduction solutions and focused on increasing sales of high value-added products to maintain our competitiveness. EximBank has provided us with the optimal financial solutions for the company's sustainable development," Năstase added.

Beyond the financial segment, Alro's collaboration with EximBank will extend to the establishment of the Romanian Exporters Association (AREX), where Alro will serve as a founding member.

EximBank has initiated the creation of AREX to promote Romanian companies engaged in international trade and strengthen their presence in foreign markets. Participation in this project is open to any exporter and does not involve financial contributions. AREX is expected to begin its activities this spring.

For more information, please contact:

Florenta Ghita

www.alro.ro
Premium Communication
Bucharest
Phone: +40 (0) 21 411 01 52
Email: florenta.ghita@premiumpr.ro

About EximBank
EximBank is a specialized institution offering products in financing, guaranteeing, and insurance to support exporters, SMEs, and companies involved in priority sectors of economic development. EximBank operates 16 branches across Romania and provides additional information on its services via www.eximbank.ro.

About Alro
Alro is a subsidiary of Vimetco N.V., a vertically integrated global producer of primary and processed aluminum. It is one of the largest aluminum producers in Central and Eastern Europe. Alro’s primary markets are in the European Union, including Hungary, Poland, Greece, Germany, and Romania, and the company also exports to the USA and Asia. Alro is certified to ISO 9001 standards for quality management and holds NADCAP and EN 9001 certifications for aerospace production units. www.alro.ro