Alumil’s investments exceed 20 million euros for 2024, while the company is aiming for a turnover of 440-450 million euros in 2024 and is placing special emphasis on digital transformation and “green” aluminum.
More specifically, the Alumil Group expects an increase in its turnover of more than 440 million euros in 2024, its founder and president, George Mylonas, stated. The main goal of this year is also the disengagement of Alumil from the servicers, specifically from Cepal, by selling the foundry to a strategic partner.
For this specific project, i.e. the spin-off of the casting branch – dated June 30 – and the sale of 70% of the spin-off company to a strategic investor from abroad, according to the Group’s management, strong interest has already been expressed by very large groups from the US, Asia, Middle East and Europe. The process is expected to be completed by the end of the year and Alumil will retain 30% of the spin-off company, to serve its needs for “green aluminium”, while the funds obtained from the sale of 70% will be used to repay the obligations it has to banks, which are in the hands of servicers.
