Late last month Romanian aluminium company Alro SA (Alro Slatina) announced the acquisition of Vimetco PLC’s subsidiary Vimetco Trading SRL for an undisclosed sum.
According to the relevant announcement, Alro paid “the assessed market value” for Vimetco Trading to Vimetco Management Romania. Alro consummated the purchase in order to take advantage of the synergies it would create between production and sales of its finished products. Also considered by Alro was the acquisition of a sales and marketing team with a collected experience in the market of over a dozen years.
Alro acquired 100 percent of Vimetco Trading’s capital. To date, Vimetco Trading has been acting as an agent without representation for Alro in a wide swath of the world’s aluminium market.
Alro was founded in 1963 and is based in Slatina, Romania. The firm, a subsidiary of Vimetco N.V., is managed by Russian investor Vitaliy Machitski and has an installed capacity of 265,000 metric tons per year, making it one of the largest producers in Central and Eastern Europe outside of Russia and Scandinavia. It also produces 35 thousand metric tons per annum of recycled aluminium and churns out 335 thousand metric tons per annum of cast aluminium.