RO aluminium producer Alro borrows EUR 32 mln working capital from EximBank
Alro Slatina, the only producer of aluminium and aluminium alloys in Romania and one of the largest vertically integrated aluminium producers in Europe, according to production capacity, has contracted a RON 167 mln (EUR 32 mln) financing facility from state-owned EximBank.
The funds will be used as working capital and were granted with a state guarantee issued within the Covid-19 state aid scheme, dedicated to large companies, according to a statement issued by Eximbank, News.ro reported.
"Through this facility, we provide one of the most important companies in Romania and Europe with the necessary funds to carry out the current activity in optimal conditions," said Traian Halalai, Executive President of EximBank.
Alro is one of the largest vertically integrated companies in Europe that produces aluminium, with an annual installed production capacity of 265,000 tons of electrolytic aluminium, 35,000 tons of recycled aluminium and 335,000 tons of cast aluminium.
The company exports its products to more than 50 countries worldwide, holding several certifications for the aerospace and automotive industries, as well as the primary aluminium quality standards of the London Metal Exchange, and international standards for flat-rolled products.
The capitalization of Alro Slatina reached RON 1.93 bln (EUR 400 mln), and the price of its shares has increased by 20.9% since the beginning of 2021.
(Photo source: Eximbank.ro)