Aluminium of Greece celebrates 50 years of operation

Aluminium of Greece on Thursday celebrated its 50 years of operation in Greece and 10 years under the control of Mytilineos Group during a special event at the presence of President of the Republic Prokopis Pavlopoulos.

“Fifty years ago when Prime Minister Constantinos Karamanlis was laying the foundations of the factory, no one could imagine the success, the contribution of the investment in national economy and the development with the acquisition by our group,” Evangelos Mytilineos, chairman and CEO of the Group said in a speech.

Mytilineos said the Group acquired Aluminium of Greece at a time when its previous owners had abandoned it and today it is a globally famous metallurgic and energy hub. “The Group, in an era of unprecedented crisis in Greece and abroad, with very low prices in products and a very low value of the euro currency, has made investments worth more than 600 million euros to make Aluminium of Greece the largest Greek industry in added value terms. We managed to cut production cost by 50 pct. The event seals the factory’s operation for 50 years and the completion of a 10-year investment plan,” Mytilineos said, adding that the unit was the most competitive in Europe and one of three best factories worldwide.

“We do not have many things to fear. We continue our investments and our efforts to boost productivity. We want Aluminium of Greece to become one step in rebuilding Greek industry in a new era,” Mytilineos said.

“The company operated as a growth leverage for the wider region. Our success offers the message that Greece can and that Greek industry will excel,” Dimitris Stephanidis, CEO of Aluminium of Greece said.
The factory’s production totals 820,000 tons of alumina annually. It employs 1,500 workers.