Long-term development of ALRO SA through achievement of sustainable investments
Wed, 31/01/2024 - 18:02
PRESS RELEASE ON THE STARTING OF THE IMPLEMENTATION OF THE PROJECT
„Long-term development of ALRO SA through achievement of sustainable investments”
The Company ALRO SA with its registered office at no. 116 Pitesti street, SLATINA, OLT county, telephone no. 0249431901, fax no. 0249 415992, Email: alro@alro.ro, tax registration number RO1515374, registered with the Trade Registry under no. J28/8/1991, legally represented by Mr. Gheorghe Dobra, PhD. Eng. in his capacity as Managing Director and Mrs. Genoveva Nastase, Ec. is her capacity as Finance Director,
As Beneficiary of the financing/ Private Beneficiary, hereby announces the starting of the implementation of the project entitled “Long-term development of ALRO SA through achievement of sustainable investments”, achieved through the Minimis Aid Scheme “Support granted for the implementation of the Program for increasing the industrial products competitiveness”.
The financing project “Long-term development of ALRO SA through achievement of sustainable investments” is to be implemented in accordance with the provisions of the Financing Contract 29 /RUC/MEAT of 28.12.2023, concluded with the Ministry of Economy, Entrepreneurship and Tourism, as Administrator of the Minimis Aid Scheme “Support granted for the implementation of the Program for increasing the industrial products competitiveness”, and the project objective fully observes the objectives of the aforementioned de Minimis Aid Scheme.
The project objective is therefore in compliance with the related European regulations, namely the Commission Regulation (EU) no. 1407/2013 of 18 December 2013 regarding the application of art. 107 and 108 in the Treaty on the functioning of the European Union to de minimis aid, as subsequently amended and supplemented.
Specifically, the objective of the financing project „Long-term development of ALRO SA through achievement of sustainable investments” is to equip the testing and calibration laboratories existing in ALRO SA with state-of-the-art instrumentation in line with the requirements of the Community standards and provisions in the field of application.
Total value of the project: 2,323,287.00 lei (excluding VAT), of which:
Co-financing from the funds beneficiary: 1,329,504.49 lei
Financing from the budget: 993,782.51 lei
The project starting date is the financing contract signing date, namely 28.12.2023, and the completion date is 08.01.2025.
Project financed from the State Budget through the Ministry of Economy, Entrepreneurship and Tourism, within the De Minimis Aid Scheme “Support granted for the implementation of the Program for increasing the industrial products competitiveness”.
Contact information:
Contact person:
Investment Manager
Eng. Bălu Ovidiu, Telephone: 0741 124097, Email: obalu@alro.ro.
Beneficiary: ALRO SA
Legal representative:
PhD. Eng. Gheorghe Dobra
| Marian-Daniel NĂSTASE | Gheorghe DOBRA |
| Chairman of the Board of Directors | Chief Executive Officer |
For further information, please contact:
Florența Ghiță
Bucharest
Phone: +40 744 644 004
Email: investor.relations@alro.ro
Notes to the Editor:
ALRO Group
The companies’ part of ALRO Group are: ALRO S.A. – manufacturer of aluminium, ALUM S.A. – producer of alumina, Vimetco Extrusion S.R.L. – extrusion business line, Conef S.A. – holding and management company, Vimetco Trading – aluminium sales and until 1 September 2023 Sierra Mineral Holdings I, Ltd. – bauxite mining, Global Aluminium Ltd. – holding company and Bauxite Marketing Ltd – marketing.
ALRO
ALRO is a subsidiary of Vimetco PLC (Republic of Cyprus), a global, vertically-integrated primary and processed aluminium producer. The structure of ALRO shareholders is: Vimetco PLC (54.19%), Paval Holding (23.21%), Fondul Proprietatea (10.21%) and others (12.39%).
ALRO is one of the largest vertically integrated aluminium producers in Europe, by production capacity, with a production capacity of 265,000 tpa of electrolytic aluminium, an Eco-Recycling capacity that will reach 100,000 tpa by the end of 2023, resulting in a production of recycled liquid aluminium of 94,000 tpa. The capacity of the Aluminium Cast House is 315,000 tpa and the processing capacity is 140,000 tpa of cold and hot rolled facilities and extrusion division.
The main market for ALRO products is represented by the European Union; the Company exports its products to the USA and to the Asia as well. ALRO is ISO 9001 certified for quality management and has NADCAP and EN 9100 certificates for aerospace production organizations, ALRO products adhere to the quality standards for primary aluminium on the LME, as well as international standards for flat rolled products.
Since 2020, ALRO and Vimetco Extrusion have been members of ASI (Aluminium Stewardship Initiative), an international association that contributes to enhancing sustainability in the global aluminium sector. In January 2023, ALRO achieved the first certification in Europe under ASI’s Third version of Performance Standards.