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Oct 30, 2017 18:06 EEST
October 30 (SeeNews) - Serbian aluminium mill Impol Seval [BEL:IMPL] has invested 89 million euro ($103 million) since it was privatised in October 2002, the managing director of the company, Ninko Tesic, said.
The investments have allowed the company to improve the quality of its products, Tesic said in a video file posted on the website of private TV broadcaster TV5 last week.
The company plans to invest in installation of a cold rolling mill and in an increase of metal casting capacity, Jernej Cokl, president of aluminium group Impol which is the parent company of Impol Seval, said in the video file.
Impol Seval plans to invest 25 million euro by 2025 to increase its annual output capacity, Serbian newspaper Uzicka Nedelja quoted Tesic as saying. Impol Seval's production rose by 1.88% on the year in the first nine months of 2017, to 48,296 tonnes, Uzicka Nedelja said.
The consolidated net profit of the company declined to 383.8 million dinars ($3.8 million/3.2 million euro) in the first half of 2017 from 675.9 million dinars in the like period of last year, Impol Seval said earlier.
Impol Seval, a member of the blue-chip BELEX15 index of the Belgrade Stock Exchange, closed at 3,724 dinars on Monday, down 1.77%.
($ = 0.861172 euro)
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