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Alro shareholders looking for investors for the aluminum plant in Slatina

Thursday, Jun 21, 2018

   The only aluminum producer in Romania has announced on Monday that its shareholders, Vimetco Group (registered in the Netherlands and controlled by Russian magnate Vitaly Machitski) and Conef SA, intend to launch a public offering of shares in the Compan, romaniajournal.ro informs..

  The Slatina-based producer’s intention to launch a secondary public offer of its shares has been reported to the Financial Regulating Authority.
  “This is exciting news for Alro. Alro has become a key player in the global aluminum market, with strong heritage, scale and international presence. We have a strong management team, that has worked together for many years with a clear strategy to continue to grow Alro’s presence with major customers across the EU and beyond, and a proven track record of growth and strong cash flow generation,” said Marian N?stase, Chairman of Alro, according to a press release.
  Gheorghe Dobra, General Manager of Alro, added: “Our vertically integrated model, that means that we have control over every aspect of our production, is a key strength of Alro. We have been actively pursuing a strategy to increase our reach into sophisticated industries which  demand processed aluminum that meets very specialized technical standards. We are proud that manufacturers such as Airbus come to Alro for aluminum products that are of the highest quality.”
  Vimetco N.V. currently holds 84.2% of the shares in Alro. The Selling Shareholders expect to offer shares in Alro to institutional investors and retail investors in Romania, and to eligible investors outside of Romania.
  The Company together with its subsidiaries (the “Group”) is one of the largest vertically integrated aluminum producers in Europe measured by production capacity with operations throughout all major stages of aluminum production. The Group consists of upstream and downstream divisions, from the mining and refining of raw materials to the production and sale of primary and processed aluminum products (comprising flat rolled products (“FRPs”) and extruded products). The Group’s Sales and EBITDA in 2017 were RON 2.7 billion (approximately US$ 679 million) and RON 566 million (approximately US$ 140 million) respectively.

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