Romanian aluminum producer reduces losses four times
Romanian aluminum producer Alro, controlled by the Russian group Vimetco, recorded losses of EUR 5.3 million last year, four times lower compared to the previous year. The turnover totaled EUR 515 million last year, up by 15% over 2014.…
Romania Insider · Journalist
· Updated · 1 min read
Romanian aluminum producer Alro, controlled by the Russian group Vimetco, recorded losses of EUR 5.3 million last year, four times lower compared to the previous year. The turnover totaled EUR 515 million last year, up by 15% over 2014. The sales of raw aluminum went up by 3.9% whereas the sales of processed aluminum saw an increase of 0.5%. The price of aluminum reached USD 1,400 per ton, compared to USD 1,600 per ton in 2014, but the drop was compensated by the strengthening of the dollar against the Euro and the Romanian leu. Local investment fund Fondul Proprietatea has a share of 10.2% in the company whereas the Russian group Vimetco owns a stake of 84.2%. The company has a market value of EUR 190 million on the Bucharest Stock Exchange. editor@romania-insider.com
