Vimetco Group, which owns 84% stake in Alro, and controlled by Russian investor Vitaliy Machitski, is exploring strategic options for a potential decrease of its ownership stake in Romanian aluminium producer Alro Slatina.
“The Company has been informed by its majority shareholder – Vimetco N.V., which currently holds 84.1898% of the Company's share capital (Vimetco) – that Vimetco is exploring strategic options for a potential decrease of its ownership stake in the Company and is reviewing any available options depending on market conditions, including a secondary public offering of shares on the Bucharest Stock Exchange,” Alro said.
The review is ongoing and no decision has been yet made, according to the company. Further announcements will be made as and when a firm decision is made.
Alro reported net profit of RON 125 million in Q1 2018, up 39% from RON 90 million in Q1 2017.The Group's turnover increased 10% to RON 749 million, from RON 681 million in Q1 2017.Primary aluminium sales increased to 33,000 tonnes in Q1 2018, up 6% from 31,000 tonnes in the same period last year.
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