Romanian aluminium producer Alro Slatina secures €34 million financing from state-owned lender EximBank
On 14th July 2021, the largest aluminium and aluminium alloy producer of Romania, Alro Slatina received a €34 million financing facility from EximBank, a state-owned lender. Exim Bank is the Export-Import Bank of Romania based in Bucharest.
Alro said in a statement filed with the Bucharest Stock Exchange, BVB that the funds disbursed are purposeful to deliver the requisite liquidity for the operations of the company and were sanctioned with a state guarantee provided under the Covid-19 state aid scheme dedicated to large companies.
Alro Slatina, a subsidiary of Vimetco N.V. is one of the largest vertically integrated aluminium producers in Europe, having an installed production capacity of 265,000 tonnes per annum of electrolytic aluminium, 35,000 tonnes per annum of recycled aluminium and 335,000 tonnes per annum primary cast aluminium.
Gheorghe Dobra, CEO of Alro, said: "We have remained faithful to our strategy and we focused on investments in innovation and the latest production technologies and we continued to pursue partnerships with organisations that support responsible and sustainable business development.”
The impulsive economic situation rooted by the Covid-19 pandemic created a huge plunge at Alro’s two of the most vital sector, specifically the automotive and aerospace.
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