Aluminum producer Alro Slatina reports USD 59.5 mln net profit in first half

Aluminum Producer Alro Slatina reported a net profit of USD 59.5 million(RON 177.4 million) in the first half of 2011, according to the company. The turnover for the first six months reached USD 381 million (RON 1.14 billion). The aluminum producer’s operating profit was USD 76 million (RON 227.6 million) in the first six months of 2011, due to higher aluminum quotation on London Metal Exchange (LME), and higher output of value-added products, according to the company. Alro also increased both its primary and its processed aluminum production in the first half of 2011. The total output of primary aluminum for the first half of 2011 was 130,458 tones, up 10 percent from 118,630 tones reported in the first half of 2010. The company increased its output of processed aluminum by almost 23 percent, to of 28,946 tones in the first half of 2011. Alro is a subsidiary of Vimetco N.V., a global, vertically-integrated primary and processed aluminum producer. Alro is one of the largest aluminum production facilities in Central and Eastern Europe measured by volume with an installed production capacity of 265,000 tonnes per year. Irina Popescu, irina.popescu@romania-insider.com (photo source: Alro)