Romania: Alum Tulcea sees profit

Alumina producer Alum Tulcea posted a 6m euro (21.4m-RON) profit in the first nine months of this year, according to a report published on the RASDAQ market. The company had seen losses standing at 21.4m euros (77.6m RON) in the first three quarters of last year. The Tulcea-based company, whose majority shareholder is Alro Slatina, has managed to double its turnover from the 57m euros (206m RON) in the first nine months of last year, to 123m euros (434m RON). Alum is the biggest Romanian producer of calcined alumina, an element used as the raw material in the production of primary aluminium.

The Tulcea-based company had stepped into the black by the middle of last year, when it doubled its turnover amid sales growth. Alum produced 291,000 tonnes of alumina, selling 78.36% of it to Alro and 13.95% to another major customer, Swiss producer Glencore. Primary aluminium producer Alro acquired the controlling interests in Alum in September last year. Alro bought 68% in the company through a deal on RASDAQ.