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VIOHALCO NEW VENTURES FOR ALUMINIUM PROFILES FOR THE AUTOMOBILE INDUSTRY GREENLIGHTED BY THE EUROPEAN COMMISSION, TURKEY

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This January, the Belgian company Viohalco announced the conclusion of an investment agreement between its wholly owned subsidiary Εtem Bulgaria and Gestamp Group for the establishment of two joint ventures for extrusion and processing of aluminium profiles for the automotive industry. In April, the European Commission and Turkey approved the agreement.

In the next three years, about 30 million euro will be invested in the installation of a new extrusion press and equipment for additional processing of aluminium profiles in Bulgaria. The agreement will strengthen Etem Bulgaria's position in automobile industry and will prove that the company can successfully meet the increasing demand for aluminium profiles, following all the innovations in automobile industry.

Viohalco is the Belgium based holding company of a number of leading metal processing companies in Europe. Viohalco's subsidiaries specialise in the manufacture of aluminium, copper, cables, steel and steel pipes products, and are committed to the sustainable development of quality, innovative and value added products and solutions for a dynamic global client base. With production facilities in Greece, Bulgaria, Romania, Russia, North Macedonia, Turkey, the Netherlands and the United Kingdom, Viohalco companies collectively generate annual revenue of EUR 4.4 billion. Viohalco's portfolio includes a dedicated technology and R&D segment, as well as recycling activities and waste management services. In addition, Viohalco and its companies own real estate investment properties, mainly in Greece, which generate additional income through their commercial development.

Gestamp is a leading global group specialised in design, development and production of metal components and systems for the automobile industry.

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