Alumil’s investments exceed 20 million euros for 2024, while the company aims for a turnover of 440-450 million euros in 2024 and places particular emphasis on digital transformation and “green” aluminum.
More specifically, the Alumil Group expects to increase its turnover to more than 440 million euros in 2024, said its founder and president, George Mylonas. The main objective for this year is also to disengage Alumil from servicers, specifically ECLAC, through the sale of the foundry to a strategic partner.
For this specific project, that is, the spin-off of the foundry business – dated June 30 – and the sale of 70% of the spin-off company to a foreign strategic investor, according to the Group’s management, strong interest has already been expressed by very large groups from the USA, Asia, the Middle East and Europe. The process is expected to be completed by the end of the year and Alumil will keep 30% of the spin-off company to meet its “green aluminium” needs, while the proceeds from the sale of 70% will be used to repay its obligations to banks, which are in the hands of the servicers.