Vimetco Extrusion, ALRO’s downstream subsidiary, starts the implementation of an automatic packaging line, a EUR 3.85 million sustainable development project.
- 48% of the project’s value is secured through a grant from Innovation Norway, a EUR 2.8 billion initiative to reduce economic and social disparities by funding energy, climate change, and sustainable business development projects;
- The automatic packaging line project is part of the company’s investment program to streamline the production process and increase the sustainable use of natural resources by reducing CO2 emissions andfuel consumption and increasing the annual collection of waste;
- Vimetco Extrusion will continue developing and ensuring a diversified portfolio of solutions complying with all environmental protection standards through continuous investments in every area of its activity.
Slatina, 10 January 2022– ALRO S.A. (BVB: ALR, “the Company” or “ALRO”), one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, announces that Vimetco Extrusion (VE), its downstream subsidiary in charge with the extrusion business line, starts the implementation of a new investment project aimed at streamlining and improving production capacity. This sustainable business development project, which takes place between July 2021 and June 2023, has a total value of EUR 3.85 million, and its main objective is to apply innovation in one of VE’s main processes. Thus, the company will acquire an automatic packaging line for the extruded aluminium profiles to increase competitivity by applying “green steps”for the extruded profiles production. This project will benefit from a grant of EUR 1.85 million (48% of the project value), from Iceland, Lichtenstein, and Norway through the EEA Grant Financial Mechanism 2014-2021 under the program “SME Development in Romania,” area of interest: Green Innovation in industry, Blue Growth, and ICT.
"Companies can build a sustainable future only by investing in the present, with consistency and consideration for all stakeholders, and Vimetco Extrusion successfully integrates this principle in its operations,” said Marian NĂSTASE, Chairman of the Board of Directors, ALRO. “Vimetco Extrusion proves through its investment program that it embraces a sustainable, predictable business model applying the highest standards in day-to-day activities and product manufacturing that remain key elements of its business,” added Marian NĂSTASE.
Through this investment, Vimetco Extrusion takes further steps to increase the added value offered to its stakeholders. It also represents proof of sustainably using the available natural resources, reducing energy consumption rates, and increasing operational efficiency while diversifying its portfolio of customized solutions offered. Moreover, the project’s results consist of growing the company’s turnover and reducing the CO2 emission, fuel consumption and waste generated in the production process.
“Innovation and collaboration are the main forces that determine the sustainable development of any company, and this is why we will continue to invest in technology along with partners who share our values and vision, such as Innovation Norway,” said Igor HIGER, Chairman of the Board of Directors, Vimetco Extrusion.“Therefore, we will keep our focus on investments in state-of-the-art technologies that use and capitalize efficiently on the company's existing resources,” added Igor HIGER.
Vimetco Extrusion will continue developing and ensuring a diversified portfolio of solutions in compliance with all environmental protection standards through continuous investments in every area of its activity.
Innovation Norway is the Norwegian Government's most important instrument for innovation and development of Norwegian enterprises and industry and the Government's official representative abroad. The grants provided by Innovation Norway operate during funding periods, and for 2014-2021 the funding amounts to EUR 2.8 billion. It covers areas like climate change and energy, innovation and sustainable business development.
