Acquisition of ALPRO A.D. cited in Vlasenitsa, in the Serbian part of Bosnia-Herzegovina
ALPRO is a leader in the former Yugoslavian market, activated in profiles production and processing since 1982, disposes modern production lines (maximum production capacity 10.000 tones annually), electrostatic painting και foundry for vertical integration. ALPRO owns 33,000 m2 land and 13,100 m2 approximately of industrial establishments.
It is certified with ISO 9001:2000 for quality issues and is currently preparing for the ISO:14001 certification for environmental issues. It further offers a wider range of aluminium profiles products available to the Balkans markets.
ALUMIL acquired ALPRO through its 100% owned subsidiary ALUMIL YU INDUSTRY S.A. (based in Tsatsak, Serbia), initially by buying shares from the local Bosnian Stock Exchange (Banja Luka) and with private placement. A Public Offer followed through which ALUMIL Group acquired 61% of ALPRO shares; today, 75% of the Share Capital is controlled directly and indirectly by the Group. An investment of euros 1,35 m. was required as of today, with an additional sum of euros 5 m. approximately to be invested in the future for the modernization of production establishments.
Based on strengthening further product range and production capacity, in order to continue satisfy increased demand for Group products internationally, new acquisition shall offer a significant competitive advantage to ALUMIL around Eastern Europe and the Balkans and alternative solutions.
Administration thoroughly examined acquisition price as soundly attractive, given ALPRO's production establishments, which will offer in the mid term, better returns for ALUMIL shareholders