<p>Slatina headquartered Romanian ALRO SA announced that the Company’s management is focusing on finding solutions to restore the electrolytic aluminium production at the 2021 level starting with 2023 subject to energy prices on the market. ALRO Chairman Mr Marian NĂSTASE said “We are actively looking for solutions to secure the energy needs for 2023 for all our five potrooms and thus to preserve the vertical integration feature of our business, as we believe the integration will remain in the long run one of the main advantages of our business model. Based on our current estimations, the restarting costs for each electrolysis pot room may be in the range of USD 10-12 million, depending on the raw material prices at that time and the period elapsed from the moment of placing them into conservation.”</p><p>In 2022, the Company is implementing its announced production plan to rescale the electrolytic aluminium production and work with two out of five electrolysis halls, while taking the necessary technological measures to allow a quick and efficient restart when the energy market conditions return to a sustainable level. Moreover, ALRO is also focusing on retaining its employees to the maximum extent posible by redistributing the Company’s workforce, in such way to allow it to restore the electrolytic metal production at the previous level in 2023 in a smooth and efficient manner.</p><p>To mitigate the impact on its turnover of the temporary production shut-down of the three electrolysis halls, currently ALRO buys cold primary metal from the market. In this way, the Company intends to maintain or even increase the processed products’ output, while for the less profitable primary aluminium products, the production will be adjusted. Thus, ALRO’s management estimates that its turnover for 2022 will be maintained at least at the 2021 levels, the adopted production plan being the best solution for the current market conditions.</p>
<p>Slatina headquartered Romanian ALRO SA announced that the Company’s management is focusing on finding solutions to restore the electrolytic aluminium production at the 2021 level starting with 2023 subject to energy prices on the market. ALRO Chairman Mr Marian NĂSTASE said “We are actively looking for solutions to secure the energy needs for 2023 for all our five potrooms and thus to preserve the vertical integration feature of our business, as we believe the integration will remain in the long run one of the main advantages of our business model. Based on our current estimations, the restarting costs for each electrolysis pot room may be in the range of USD 10-12 million, depending on the raw material prices at that time and the period elapsed from the moment of placing them into conservation.”</p><p>In 2022, the Company is implementing its announced production plan to rescale the electrolytic aluminium production and work with two out of five electrolysis halls, while taking the necessary technological measures to allow a quick and efficient restart when the energy market conditions return to a sustainable level. Moreover, ALRO is also focusing on retaining its employees to the maximum extent posible by redistributing the Company’s workforce, in such way to allow it to restore the electrolytic metal production at the previous level in 2023 in a smooth and efficient manner.</p><p>To mitigate the impact on its turnover of the temporary production shut-down of the three electrolysis halls, currently ALRO buys cold primary metal from the market. In this way, the Company intends to maintain or even increase the processed products’ output, while for the less profitable primary aluminium products, the production will be adjusted. Thus, ALRO’s management estimates that its turnover for 2022 will be maintained at least at the 2021 levels, the adopted production plan being the best solution for the current market conditions.</p>
