M. Stasinopoulos (ElvalHalcor) – We invested 1.5 billion euros in the eight years of the crisis

The opportunities of the Greek heavy industry brought by the transition to the green and circular economy were underlined by the president of ElvalHalcor Michalis Stasinopoulos during an informative meeting with the journalists.

The strong man of the Viohalco group and head of the two subsidiaries, which are active in the production of aluminum (Elval) and copper (Halcor), did not fail to emphasize the meaning of the contribution of the two industries to the Greek economy: “Since we moved the headquarters abroad our companies invested 1.5 billion. euros in the Greek economy “. He underlined the advantages of ElvalHalcor in the international arena, where the majority of its products produced in the factories of Inofyta are exported: “Elval and Halcor had organic growth without investing in acquisitions of companies. Experience, extroversion and quality are the characteristics of the two companies that brought them to the top internationally “.

Mr. Stasinopoulos spoke about “big currents that run in the international economy and are none other than the green economy and energy efficiency”. He sees the two companies starring: “Halkor in cooling and heating and together with Sofia Med in Bulgaria account for significant shares in the electric drive and in particular in the production of products for the electrical connections of cars. “Elval relies on packaging, green building, RES, cars and shipping.”

The investments of 250 million euros

During the same event, the financial director of ElvalHalcor Spyros Kokkolis referred to the large investment of 250 million euros regarding the installation of the quadruple hot roller (tandem) which raises the production capacity of Elval to 520,000 tons from 300,000 tons until last year.

The Deputy General Manager of Elval, Nikolaos Karabateas, explained that from the aforementioned total amount of investments, the part of 100 million euros is completed, which concerns additional equipment. The company completed the part of 150 million euros which is the tandem. The next goal is the 800,000 tons of production capacity, something that will be achieved with new investments.

With the installation of the tandem array, Elval has the second largest production plant in Europe, while 86% of its products are exported to 100 countries.

The demand for aluminum

According to the company’s executives, its prospects are great.

Global consumption of rolled aluminum products is expected to increase at an annual growth rate (CAGR) of 4.1% by 2025.

Elval has a wide portfolio of high quality products for markets such as packaging, construction, shipbuilding, automotive, energy, industrial applications and heating – cooling – air conditioning (HVAC & R). It is strategically focused on the packaging and transport sectors that are the biggest opportunities for its further development.

In the packaging sector, there is an increase in demand for aluminum cans and at an annual rate of 4.3% by 2030 *. In Europe alone, the extra demand for aluminum cans is projected to reach 400,000 tonnes. The demand for aluminum from the automotive industry is expected to record an average growth rate of 13.1% for the period 2019-2023.

The prospects of copper

Halcor is the largest producer of copper pipes in Europe and according to the General Manager of the Rolling and Copper Alloys sector Panos Lolos the continuous increase of the global temperature leads to a growing demand for HVAC & R copper pipes.

The intensity of urbanization of the world population, leads to a geometric increase in demand for copper products

Investments in the development of RES and infrastructure in energy and telecommunications networks, imply an increase in demand for copper products.

Typical examples, according to Mr. Lolos, are the increase in demand for cables and HF (High-Frequency) cables, which is predicted to lead to a 30% increase in demand for copper strips.

The use of copper and its alloys in electric cars is up to 4 times higher, or 63 kg more per vehicle, compared to conventional ones. 140 million new electric cars will be built by 2035.