Alumetal: Capex for 2020 will amount to PLN 60 million-plus

Przemysław Grzybek, Board Member and Financial Director of Alumetal stated that the investment outlays of the Alumetal Group will ultimately amount to "PLN 60 million-plus" in 2020, while in 2021 the group's Capex is planned at the level of several million zlotys. Alumetal is one of the biggest manufacturers in Europe for modern and dynamically developing secondary aluminium casting alloys.

"Capex in 2020 will amount to 'PLN 60 million-plus', depending on what part of the latest works related to the modernization of the plant in Kęty will be transferred to 2021" - said Grzybek during the videoconference.

Previously, the company planned investment outlays in 2020 at the level of approx. PLN 70 million.

"For 2021, we are planning investment outlays at the level of several million zlotys," added Grzybek.

Following the three quarters of 2020, the group's Capex was PLN 48.4 million and the most important project is the modernization of the factory in Kęty, Poland, which is currently being finalized.

Agnieszka Drzyżdżyk, President, Alumetal said: "We are at the final stage of the investment, tests, adjustments and optimizations of devices are underway. In the first quarter of 2021, we plan to achieve a full production capacity of the new line.”

As a result, the total production capacity in the entire Alumetal Group will increase to 270,000 tonnes of alloys per year.

"In the fourth quarter, we will complete this investment, we still expect expenses for this purpose at the level of a low several million zlotys" - summed up Grzybek.

The planned budget for the investment in Kęty is PLN 67.8 million, and so far PLN 53.9 million has been spent on it.

The Alumetal Group is a national leader in this field and is the fourth-largest producer of secondary aluminium alloys in Europe.