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Romania's Alumil to take part in cap hike of Turkish affiliate

Author Mario Tanev
Romania's Alumil to take part in cap hike of Turkish affiliate Alumil Romania factory in Filipestii de Padure, Prahova

BUCHAREST (Romania), October 10 (SeeNews) - Romanian aluminium processor and distributor Alumil Rom Industry [BSE:ALU] said on Thursday that it will subscribe for 40% of the 3 million Turkish lira ($509,000/462,000 euro) capital increase of its Turkish affiliate Alumil Ege Aluminyum.

The remaining 60% will be subscribed by Greece's Alumil Aluminium Industry, Alumil Rom Industry said in a bourse filing.

Alumil Ege Aluminyum currently has a registered capital of 1.9 million Turkish lira.

Following the capital increase, Alumil Rom Industry's stake in Alumil Ege Aluminyum will remain at 40%.

As at 12:05 CET on Thursday, Alumil Rom Industry shares traded 0.86% lower at 0.694 lei on the Bucharest Stock Exchange.

Alumil Rom Industry was founded in 1997 as a subsidiary of Greece's Alumil Aluminum Industr - an international group active in the aluminum extrusion industry. In 2013, Alumil Rom inaugurated a factory in Filipestii de Padure, Prahova county, in southern Romania, following a 30 million lei investment. The company also has a nationwide distribution network.

(1 euro = 6.4998 Turkish lira)

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