Alro salutes the EC conclusion that its contract with Hidroelectrica did not involve state aid
Mon, 15/06/2015 - 10:24
Alro SA (BSE: ALR, “The Company” or “Alro”), one of the largest aluminium producers in Central and Eastern Europe, salutes the conclusions of the investigations conducted by the European Commission (EC) in respect to its contracts with the electricity generator Hidroelectrica.
As per the EC press release sent out on June 12th, “following an in-depth investigation, the European Commission has concluded that electricity supply contracts signed by the state-owned Romanian electricity generator Hidroelectrica with certain electricity traders and industrial customers did not involve state aid within the meaning of the EU rules”. Moreover, “in particular, the analysis revealed that Hidroelectrica charged prices that were fully in line with the benchmark market price to nine customers” among them Alro as well.
The EC press release also states that “Hidroelectrica charged prices that were fully in line with the benchmark market price” and that “the Commission therefore concluded that none of the sale contracts under examination involved state aid”.
The conclusions of the EC investigation come as a confirmation of Alro’s position, as presented from the beginning of the proceedings. The Company had a correct commercial relationship with Hidroelectrica, complying with all legal requirements that regulate the energy sector in Romania.
Throughout the investigation, Alro cooperated in a professional and transparent manner with the European Commission and presented all the documents that the authorities required, documents that proved the Company’s position and led to the conclusion that there is no state aid involved in the contracts with Hidroelectrica.
For further information please contact:
Florenta Ghita
Premium Communication
Bucharest
Phone +40 (0) 21 411 01 52
Email florenta.ghita@premiumpr.ro
Notes to the Editors:
Alro is 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 United States of America and Asia. Alro is ISO 9001 certified for quality management and has NADCAP as well as EN 9100 certificates for aerospace production organizations. Alro’s 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.