$15m capital increase at Alprom Slatina

The aluminium processor Alprom Slatina is planning to increase its share capital by 494bn ROL ($14.5 million) by contributions from shareholders. The new shares will be sold to the shareholders for 25,000 ROL each, the same as the par value. The capital increase is operated in order to comply with the investment obligations of the majority shareholder, as undertaken by the privatisation contract, yet all the Alprom shareholders registered by April 11 will be allowed to participate in it. The money therefrom raised will be used for upgrades and environment protection purposes. “The upgrades will boost Alprom’s production from 23,000 tonnes last year to 40,000 tonnes in 2003 and to 60,000 tonnes in 2004,” said Peter Braun, Alro Slatina deputy chairman and head of Marco International trade company’s operations in Romania. Alprom exported about two thirds of its total output last year. Braun added Alro had already deposited its approximately $10 million contribution to the increase. Alprom is controlled by Alro Slatina, the only producer of primary aluminium in Romania, which holds about 70% in it. ZF