Alprom losses surge

Aluminium processor Alprom Slatina logged 2,390bn ROL ($72 million) turnover last year, 20% higher from the year before, yet losses were nearly 18 times higher, reaching 179.8bn ROL ($5.4 million). The domestic market witnessed a 6.57% drop in the sales of aluminium and aluminium alloy products, while sales of laminated aluminium and aluminium alloys dropped 11.05%, the company’s annual report shows. According to the company data, the turnover increase was due to both a higher output and to a 14.6% increase in exports compared with 2002. Revenues were of 2,349bn ROL ($70.7 million), while expenses were worth 2,529bn ROL ($76.1 million). Alprom allotted 76.2bn ROL ($2.2 million) to technology upgrades and plans to allocate a further 278.6bn ROL ($8.3 million) for investment projects in 2004. ZF