June 29 (SeeNews) – Romanian aluminium producer Alro [BSE:ALR] said on Thursday that it has invested $11 million (10 million euro) in a recycling plant
The new facility located at Alro’s business site in the southern county of Slatina will increases the company’s scrap aluminium recycling capacity by 60,000 tonnes per year, it said in a filing with the Bucharest Stock Exchange.
The installation comprises two double-chamber furnaces, one holding furnace and the related fume collection and treatment plant.
“While the very challenging business environment forced us to adapt our development plans to maintain our position on the international market, one strategic direction remained unchanged, namely our commitment to increase efficiency and reduce overall consumption, and the investment in the Eco Recycling Facility supports these plans,” said Marian Nastase, chairman of Alro’s board of directors.
Alro is specialised in the production of primary and processed aluminium, with operations in Romania, China and Sierra Leone. In Romania, the company has an aluminium production unit in Slatina and an alumina plant in Tulcea.
Alro shares traded flat at 1.625 lei ($0.35 euro/0.32 euro) as at 0945 CET on Thursday on the Bucharest Stock Exchange.
($=0.916136 euro)