Alro signs contracts worth over 22m euros

Since last year Alro Slatina, the biggest primary aluminium smelter in Central and Eastern Europe, has closed contracts worth several tens of million of euros with other companies within the group. Out of this amount, 22 million euros is just the value of contracts with a fixed sum, while the value of other contracts has been indexed to the prices of aluminium or raw materials on international markets. Alro also closed a contract with Rivergate SRL to rent office space, worth two million euros. In addition to Alro Slatina, the Alro group also includes Alprom Slatina, Alum Tulcea and the trader Conef Bucharest. Alro’s merger with Alum is currently in full swing, the merger being a strategy of vertical integration applied by Marco Industries, the majority shareholder of the aluminium manufacturer. The Marco Industries group, based in the Netherlands, is owned by businessman Vitaly Mashytsky. According to data provided by Alro, the biggest contracts were closed with alumina manufacturer Alum Tulcea, the company’s main raw material supplier. Alro signed contracts worth some 15.5 million euros with Alum. This sum does not include the contracts where the price is tied to the trend of the metal price on London Metal Exchange.