Business News

Alumero Group Happy with Business in Slovenia

Slovenska Bistrica, 15 April (STA) - Austrian aluminium products maker Alumero Group, which took up production in Slovenia last year on the ashes of aluminium plant Almont, is happy with its business in Slovenia, Alumero boss Manfred Rosenstatter has told the STA. The group made EUR 3.8m in revenues with its Slovenian plant in the second half of 2012.

The Slovenian part of the group, which accounts for around 8% of the group's total revenues, generated EUR 140,000 in profit in its half-year operation last year and the group hopes to at least double the result to revenues of around EUR 7.5m this year.

The Austrian company intends to keep the number of employees at 80 this year, but then double it in mid-term if the planned results are reached.

"Most of the employees come from Almont, since they have very good experience in the business and the management is also working well," said Rosenstatter, who left the running of the plant to the old Almont management.

He explained that the group decided to enter Slovenia as an access point to SE Europe, which it finds an interesting market also for other products from its range, like photovoltaics.

According to Rosenstatter, Almont is a good plant with excellent experience, quality staff and very good range of products.

The most important markets for the Slovenian part of Alumero are Slovenia, Austria and Germany, but the company is also vying the Croatian market, where its products are to be presented shortly at a fair.

Although generally happy with the business in Slovenia, Rosenstatter noted that the high prices of real-estate and land did not contribute to drawing in foreign investments.

Alumero is currently renting both the plant in Slovenska Bistrica, which was appropriated by the Hypo bank when Almont went into receivership in June 2012, and the machinery, which has not yet been auctioned off.

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