Romanian aluminum producer Alro borrows USD 200 million

Romanian aluminum producer Alro Slatina will get USD 200 million (EUR 179 million) loans from local and international banks.

It will borrow USD 60 million from the Black Sea Trade and Development Bank (BSTDB), a financial institution whose shareholders are the 11 countries bordering the Black Sea. The bank was founded by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine, which are also the 11 founding countries of the Black Sea Economic Cooperation.

The aluminum producer will also take USD 120 million from a syndicate of banks, to finance an older loan taken from the European Bank for Reconstruction and Development. It has also borrowed USD 27 million from local lender Raiffeisen Romania.

The company, which is the biggest aluminum producer in Central and Eastern Europe, will guarantee the loans with land, buildings, bank accounts and raw material stocks.

Alro Slatina is owned by Vimetco, a group that’s registered in the Netherlands and controlled by Russian investor Vitaliy Machitski. Alro had sales of USD 630 million and USD 19 million losses. The group had almost 3,800 employees.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.