Greek aluminium brand Aluminco initiates squeeze-out of minorities at its Serbian Unit

In a recent development, Greek aluminium products manufacturer Aluminco is set to vote on a proposal to squeeze out minorities at its Serbian unit, Aluminco Sar. The extraordinary shareholders' meeting, scheduled for February 26, will address this significant move by Aluminco.

Aluminco, a pioneer in the aluminium industry, is making waves with its proposal to control 100% of its Serbian unit, Aluminco Sar. This strategic decision is crucial for the company's trajectory, signalling its commitment to consolidation and growth.

Aluminco, holding a commanding 90.1% stake in Aluminco Sar, is pushing forward to acquire the remaining 9.9% owned by local individual Milorad Paunovic. The move reflects Aluminco's strategic vision for full control over its Serbian operations.

Chronology of Aluminco – Since 1982 

Aluminco was founded as a family business specialising in cast aluminium products. Over 60 countries now benefit from Aluminco's innovative aluminium solutions. Aluminco also became the first Greek aluminium company to operate outside Greece.

Aluminco embraces sustainability, which is evident in initiatives like a 1.2 MWp photovoltaic system, which reduces carbon emissions by 1925 tons annually. Among some of its most beautiful contributions is the Thessaloniki airport's new terminal, which adorns ALUMINCO SKG120, showcasing innovation and design in complex projects.

New acquisitions strengthening the company's prowess  

The addition of aluminium extrusion in Northern Greece and the installation of a new extrusion line mark milestones in Aluminco's expansion. Implementing ISO 50001, reducing energy consumption and carbon footprint, underscore Aluminco's dedication to sustainable practices.

Aluminco's proposal to squeeze out minorities at Aluminco Sar signals a strategic move towards complete control. This decision aligns with the company's trajectory of global expansion and commitment to sustainable practices, reinforcing Aluminco's position as an industry leader. If you wish to know more about the dynamics of the aluminium industry, go ahead and book AL Circle's special report, Global Aluminium Industry Outlook 2024.