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Romanian aluminium smelter Alro cuts production, plans to suspend operations

Alro Slatina (BVB: ALR), one of the largest vertically integrated aluminium producers in Europe and one of the largest Romanian energy consumers, has started a program of total closure of the activity because of the high energy prices, Constantin Popescu, President of the trade union within Alro Slatina, told Ziarul Financiar.

The plant has reportedly already started the closure process. In the first phase, the production will be cut by 60%.

"We are facing exorbitant prices in the energy market and a lack of energy in the market. We have already started the closure process. We can't find energy. We will close the production lines. We cannot produce at the price of USD 2,300-2,600 per ton of aluminium," Constantin Popescu said.

Marian Năstase, Chairman of the Board of Directors, could not be contacted by ZF to confirm the decision.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

Romanian aluminium smelter Alro cuts production, plans to suspend operations

Alro Slatina (BVB: ALR), one of the largest vertically integrated aluminium producers in Europe and one of the largest Romanian energy consumers, has started a program of total closure of the activity because of the high energy prices, Constantin Popescu, President of the trade union within Alro Slatina, told Ziarul Financiar.

The plant has reportedly already started the closure process. In the first phase, the production will be cut by 60%.

"We are facing exorbitant prices in the energy market and a lack of energy in the market. We have already started the closure process. We can't find energy. We will close the production lines. We cannot produce at the price of USD 2,300-2,600 per ton of aluminium," Constantin Popescu said.

Marian Năstase, Chairman of the Board of Directors, could not be contacted by ZF to confirm the decision.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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