Alro Slatina S.A.

  • Investment Summary
  • Fund Stake 10.21%
  • Sector Aluminium production
  • Website Click Here

Alro was established as a state-owned enterprise in 1961 and was registered as a joint-stock company in 1991.

Alro was listed on the BSE in 1997 and privatized in 2002.

An affiliate of the Vimetco group, Marco Acquisitions (UK) Ltd built up a position of 27.85% over 2000 and 2001, through purchases on the Bucharest Stock Exchange. By the end of 2001, a separate company, Conef SA, had independently built up a 13.77% position. In 2002, a consortium of Marco Acquisitions (UK) Ltd, Marco International Inc and Conef SA agreed to buy a further 10% of Alro from the Romanian privatisation agency. Romal Management BV (later renamed Marco Industries BV) was incorporated in 2002, joined the consortium in 2003, and acquired a 68.84% stake in Alro. Through a number of share capital increases that most minority shareholders chose not to participate in, the group’s shareholding grew to 85.3% by late-2005.

In 2003, Alro acquired Alprom, adding processed aluminium capacity to its aluminium smelting business. In 2005, Alro acquired a 67.9% stake in Alum, enabling the company to secure the bulk of its alumina requirements internally. Meanwhile, Alro has increased its ownership in Alum to 99.4%. 

According to Law no. 247/2005, the Ministry of Economy contributed a 18.17% stake in Alro SA to the capital of Fondul Proprietatea. Currently, Fondul Proprietatea's stake in Alro is 10.21%.

In 2007, Marco Group changed its name to Vimetco.

For information regarding the company's financial results, please visit the company's website here