BUCHAREST (Romania), June 27 (SeeNews) - Vimetco Extrusion, a subsidiary of Romania's Alro Group, has invested 10 million euro ($10.5 million) in a 7'' press extrusion line for aluminium profiles, the group's flagship company Alro [BSE:ALR] said on Monday.
The new press sustains Vimetco Extrusion strategy to increase its production capacity for high value-added aluminium products, Alro said in a statement filed with the Bucharest Stock Exchange, BVB.
The new extrusion line will increase Vimetco Extrusion’s annual production capacity by 11,000 tonnes to 35,000 tonnes by the end of 2022.
"This is yet another step towards increasing the portfolio of high and very high value-added products, while consolidating the relationship with our customers by offering them a reliable, long-term partner capable of delivering tailored products and services," Alro board of directors chairman Marian Nastase said.
Vimetco Extrusion is the aluminium extrusion business line of Alro Group. The group is part of global, vertically-integrated primary and processed aluminium producer Vimetco N.V.
Alro shares were changing hands 1.08% higher at 1.41 lei ($0.3/0.28 euro by 1242 CET on Monday on the BVB.
(1 euro=4.9459 lei)
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