ElvalHalcor has awarded a contract to the German SMS Group GmbH, to supply a new four-stand tandem aluminium hot finishing mill for its Oinofyta plant, near Athens.
This order is part of a EUR 150 million investment in equipment, technology and infrastructure, announced by the Company on the signing of the loan agreement with the European Investment Bank on December 22, 2017, for its financing. This investment represents the first phase of the Company’s five-year plan to more than double its flat rolled aluminium products capacity.
With the new four-stand tandem mill, the future spectrum of hot rolled strips will range from 1.8 mm to 12.7 mm in thickness and up to 2.6 m in width, and will secure ElvalHalcor’s position as one of Europe’s leading producers of wide aluminium sheet.
This investment allows for the increase of ElvalHalcor’s current presence in aluminium packaging, industrial, transportation and architectural applications and sets the base for expansion in the automotive and aerospace sectors.
The new investment also supports the further modernization of the plant, introduces the latest industrial technology, increases energy efficiency and improves the environmental footprint.
The new hot rolling line will start production in the first quarter of 2020.