The profit of Alro Slatina (ALR) continues to finance Chineseoperations of the Vimetco group, which did, however, step into theblack in 2009. The Vimetco group, registered in the Netherlands andlisted on the London Stock Exchange, which holds the majority stakein the only Romanian-based aluminium producer Alro Slatina (ALR),reported a 63 million-dollar profit in 2009, after recording 144million dollars in losses in the previous year. More than half thenet profit, around 48 million dollars, comes from the group'sRomanian operations, where it owns alumina producer Alum Tulcea,which resumed production at the end of last year, after a two-yearhiatus, during which time the plant was retooled.
Chinese operations contributed around 25 million dollars toVimetco's profit, although sales were around 85% higher thanAlro's. In 2008 Alro made a 91 million-dollar net profit, whichcould not, however, offset the 223 million-dollar losses posted inChina. The difficult market conditions that have to do with thedecline in the price of aluminium, led to significant restructuringwithin the group at the beginning of the year. However, the biggestrestructuring was done at Alro, where output was cut by around 25%and the number of employees by around 1,000, to 2,900.
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