BVB CEO praises aluminum maker Alro as a model of stock market-driven growth

  Aluminum maker Alro's industrial perseverance has transformed a 1965 plant into an integrated European leader, capable of producing 265,000 tons of primary aluminum and 100,000 tons of products annually, said Bucharest Stock Exchange (BVB) CEO Remus Vulpescu on Tuesday, at an event marking the 60th anniversary of uninterrupted activity for the industrial capacity and 28 years since its listing on the stock exchange."Alro's listing in 1997 opened the company's access to financing through the capital market and strengthened its transparency, as a component of the BET index - which includes Romania's best-performing listed companies, of the BET Plus index and the BET BK index investment fund managers use as a reference for their investment policies," Vulpescu said, mentioning also the company's more than $900 million worth of investments in technology and sustainability, its ASI Performance Standard V3 certification and the expansion of its Eco-Recycling facility to 100,000 tons/year, as a confirmation of Alro's commitment to aluminum with a footprint low carbon.In his turn, the president of the Financial Supervisory Authority (ASF) Alexandru Petrescu sent a message of appreciation for Alro's activity."Having a Romanian company listed on the stock exchange for 28 years now means a lot, and we are justified to use words like 'tradition' when referring to it," said Petrescu.In the opinion of the ASF official, the evolution of the Romanian capital market is mirrored by a significant indicator, specifically the stock market capitalization. "At the time Alro got listed, the stock market capitalization was just over RON 500 million. Today we are talking about reaching the RON 400 billion mark," he said, as he thanked the company for its "durability" and "resilience."Chairman of Alro's Board of Directors, Marian Nastase, sent a message about the importance of transparency and trust in the capital market. "The stock market is a vehicle that generates trust. Rendering state-owned companies transparent would bring added trust and reduce the suspicions that hover over them," Nastase said, emphasizing the need to list more state-owned companies for clearer governance."We will continue to invest in sustainability, in innovative products and in technologies that intelligently capitalize on resources, remaining a trustworthy partner for customers, communities and authorities," said the Chairman of Alro's Board of Directors.According to BVB data, the aluminum producer's market value has increased almost 21 times since its listing to over RON 1 billion today. Since its establishment, Alro has produced about 11 million tons of electrolytic aluminum and 12 million tons of cast aluminum.In the last 22 years, Alro Group has invested over $1 billion and in 2024 its turnover amounted to about $741 million. With over 2,600 direct employees, Alro's activity and that of the aluminum industry support over 20,000 jobs.