Romanian aluminium producer Alro Slatina expects net profit up 28% this year

Romanian aluminium producer Alro Slatina estimates for this year a net profit of USD 64 million, up by 28 percent compared to last year, according to a report submitted to the Bucharest Stock Exchange. The company also forecast for this year USD 728.9 million in turnover, nearly 28 percent higher than the one achieved in 2010, according its income and expenditure budget for 2011 approved by the General Meeting of Shareholders. However, the Alro Slatina mill planned for this year an investment of nearly USD 30 million. In 2010, the company reported a net profit of USD 50 million while its turnover was USD 570 million. Alro is one of the top eight aluminium producers for the aircraft industry and is a subsidiary of Vimetco NV. Alro is the largest aluminium producer in Central and Eastern Europe, with an installed production capacity of 265,000 tonnes per year. The main markets for Alro products are in the European Union, but the company also exports to Asia and the United States. Alro currently has 2,530 employees, the company being the largest employer in the county of Olt, Romania. Irina Popescu, irina.popescu@romania-insider.com