'We are constantly investing in people, technologies and machines!' This was stated by the Director of Investor Relations at 'Alcomet' AD Petar Stanchev. He has participated online in the panel 'Drivers of Growth' of one of the largest economic events held in our country - 'The sound of Money'. Due to the epidemiological situation in the country, the economic forum was held online this year.

The forum starts in Sofia on June 2nd. It was attended by 40 leading companies from across the country, 50 lecturers, of which 40% senior managers, representatives of their companies. The program of the forum included the panels 'Personal Finance', 'On the Market in 2021', 'Drivers of Growth', 'Banks', 'Education' and 'Real Estate'.

The Drivers of Growth panel presented the point of view of some of the largest companies in the country, including 'Alcomet' AD. Unicredit Bulbank's chief economist Hristofor Pavlov and Schneider Electric's regional manager Radoslav Koshkov were the other two panelists. The moderator of the discussion Ivan Nonchev emphasized that aluminum production is among the most dynamic sectors in the industry.

Petar Stanchev shared that in its best years in the past the plant produced about 36,000 tons of finished products. After the privatization, the new owners of Alcomet AD invest a total of over BGN 340 million. As a result, the volume of production doubled to 73,000 tons. For the previous year the turnover of Alcomet AD is 180 million euros. This year the production volume is expected to reach 90,000 tons and the turnover will be in the range of 220-230 million euros.

In the last three years, the amount of investments is over BGN 120 million. Two new workshops have been built on an area of 20 decares. With the implementation of this investment program Alcomet AD will be able to manufacture automotive components. And here is the intersection between the fact that aluminum is the metal of the future and the future of the automotive industry belongs to electric cars.

'We have already signed our first contracts with one of the leading car manufacturers in Europe,' said Peter Stanchev. And he predicts that about 25% of the press production of Alcomet AD will be directed to the automotive industry.

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Alcomet AD published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2021 13:12:05 UTC.