Vimetco and Conef plan to offer shares in aluminium producer Alro

Vimetco and Conef, which owns Romanian aluminium producer Alro, plan to proceed with the public offering of shares in the company. Vimetco and Conef are controlled by Russian investor Vitaliy Machitski. The company together with its subsidiaries consists of upstream and downstream divisions, from the mining and refining of raw materials to the production and sale of primary and processed aluminium products.

Alro’s sales and EBITDA stood at RON 2.7 billion (approximately US$ 679 million) and RON 566 million (approximately US$ 140 million) respectively in 2017.

Marian Nastase, Chairman of Alro, commented: "This is exciting news for Alro. Alro has become a key player in the global aluminium market, with strong heritage, scale and international presence. We have a strong management team, that has worked together for many years with a clear strategy to continue to grow Alro’s presence with major customers across the EU and beyond, and a proven track record of growth and strong cash flow generation.”

Gheorghe Dobra, General Manager of Alro, added: “Our vertically integrated model, that means that we have control over every aspect of our production, is a key strength of Alro. We have been actively pursuing a strategy to increase our reach into sophisticated industries which demand processed aluminium that meets very specialized technical standards. We are proud that manufacturers such as Airbus come to Alro for aluminium products that are of the highest quality.”

Vimetco N.V. owns 84.2% stake Alro. The Selling Shareholders expect to offer shares in Alro to institutional investors and retail investors in Romania, and to eligible investors outside of Romania.