Alro to pay owner for advice

Alro Slatina has recently concluded a contract for advisory services with Marco Group Switzerland, which will see it will pay 145,000 dollars per month plus a success fee of 1% on projects brokered by the company. Marco Group Switzerland is the management services decision of Marco Group, the majority shareholder in the Slatina plant. The agreement, which is valid until the end of this year, will see Marco Group provide general business advice, as well as advice on securing raw materials, energy and gas, and acquisitions and management services for raising funding. Alro will also pay the expenses for the services delivered. Alro Slatina, which is Central and Eastern Europe”s largest manufacturer of aluminium, is controlled by the Russian oligarch Vitaly Matshytsky through Marco Industries. Marco Industries and Conef own almost 80% in Alro, with Matshytsky the main power behind the company. According to market sources, he also controls another company, Pioche, which is registered in the Belize and the current majority shareholder of Alum Tulcea.