By George Lampiris
The aluminum extrusion company, Aluminco, spent 7 million euros for the acquisition of the factory of the company for the production of windows and armored doors, Doral, which has been put into liquidation, as stated by the CEO of the company, Argyris Karras. The newly acquired production unit that the company incorporates into its potential will add a productive displacement of 7,000 tons on an annual basis and will start operating within the first four months of 2022. The factory located in the area of Kalochori, Thessaloniki will need to add a new extrusion production line aluminum, for the purchase and installation of which an expenditure of EUR 9 million is required. The acquisition of the plant took place through the auction process, while the said plant had ceased operations in 2013, given the significant financial problems faced by Doral.
The company made this acquisition exclusively through equity, while the total amount of the investment over a five-year period to strengthen this production unit will amount to 20 million euros, part of which will be covered by financing from the banking sector.
With this move, Aluminco will add to its production dynamics a fourth production line in addition to the third line that it installed at the Inofyta factory and was put into operation in 2021.
The turnover of 2021 is at 56 million euros
For 2021, Aluminco’s turnover will reach 56 million euros at group level with a growth rate of over 35%. At the same time, exports account for 55% of the group’s turnover and the company sells its products in more than 60 countries. Ebitda will amount to 5.5 million euros.
New photovoltaic installation for self-generation of energy in response to the energy crisis
Standing on the burden borne by the industry as a whole and his business from the high energy costs, Mr. Karras noted that his company has to deal with two main energy costs arising from the use of electricity and gas by doubling and tripling prices. “Despite the fact that we are closely monitoring the situation, our reaction margins are reduced. At the investment level, we have created a new photovoltaic system installation on the roof of Inofyta and we are adding another 1MW photovoltaic park that will enable us to consume energy. that we produce, significantly reducing costs. ”
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Source From: Capital
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