Alro Slatina, one of the largest aluminum producers in Europe, will get a non-reimbursable funding of some EUR 8 million to finance a big research project.

The financing, which comes from the European Commission, through the National Authority for Scientific Research and Innovation, will cover some of the costs of an investment program in research worth about EUR 26 million that Alro plans to carry out in the next two years, the company announced.

The research program aims to help the company study several processes related to Aluminum alloy sheets. Alro is a certified supplier of aluminum alloys for the aeronautical industry and starting next year it will be a supplier for Airbus, one of the biggest aircraft producers in the world.

In the first half of this year, Alro Slatina posted a turnover of over EUR 250 million, down 8.8% compared to the first six months of 2016. It made a profit of EUR 8.7 million, compared to EUR 15.2 million during the same period last year.

In 2015 the company posted total revenues of EUR 617 million, up 14% over 2014. Its loss amounted to EUR 5.4 million, five times lower compared to the 2014 result.

editor@romania-insider.com