Alro Slatina aluminium maker posts 11 mln dlrs in H1 net profit

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Aluminium maker Alro based in Slatina (southern Romania) posted net profit worth 35.31 million lei (11 million dollars) in the first half-year, nearly seven times smaller on the same period in the prior year; its turnover amounted to 718.7 million lei (226 million dollars), by 28 percent smaller than over Jan.-June of 2008, according to the company’s financial report.

Primary aluminium sales in the six months of this year totalled 115,397 tonnes, while the rolled aluminium products totalled sales of 12,256 tonnes.
According to the half-year report, Alro Slatina recorded a 40 percent drop in the indirect production costs compared to the 2009 budget, while the amount earmarked for investment this year totals six million dollars.

Investments in the first half-year stood at 2.65 million dollars and were aimed at increasing the production capacity, upgrading equipment, cutting industrial water consumption and improving the working conditions.
This year Alro commissioned the rolled material re-annealing furnace, which will improve the surface quality of the aluminium plates.

Alro Slatina Company has a share capital of 356.89 million lei divided into 713.78 million shares, carrying a par value of 0.50 lei. Its majority shareholder is Dutch-registered group Vimetco, controlled by Russian businessman Vitali Masitski. Vimetco holds 84.18 percent of Alro.

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