Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Alro asks the state to buy part of the output for the state reserve to ease the burden of the crisis

Union leader of the largest aluminum producer in Romania, Alro, said local politicians were urged to lobby in Bucharest and convince central authorities to store part of the production to the state reserve and help the plant keep all the jobs despite the shrinking demand.

The company reported last year a 44 percent decrease in net profit to 244.13 million lei as expenses overcame revenues by a long run and is now thinking about reducing total production by 25 percent and even dismissing people.

The company is going through a very tough time, union leader Constantin Popescu said, adding that a solution to give a helping hand to people in the peril of losing jobs is for the state to buy some 30,000 tones of aluminum at 1,800 American dollars per tone, he said.

Alro produces annually some 205,000 tones of aluminum. However, the price fluctuations for aluminum traded on the London market led to significant losses and generated the opening of a voluntary leave list. Some 1,300 employees signed up in the past three months.

Last year the company dismissed 936 people thus diminishing the work force by 10 percent and is now looking into the possibility of keeping up the lays-offs program.

Alro invested about 50 million dollars last year in modernizing its plants and in environment protection projects. It also paid taxes amounting to 72 million euros and produced some 288,000 tons of aluminum which it distributed in Hungary, Poland, Greece, Germany, Romania, The United States of America and Asia.

The company has a share capital of 356.89 million lei, divided among 713.78 million shares, at a face value of 0.50 lei. The main shareholder is the Vimetco NV Group, with 84.19 percent of the shares.

 

Sursa: http://www.newsin.ro

Tags: million aluminum state