BUSINESS

Mytilineos buys out aluminum processing firm

TAGS: Business, Industry

Mytilineos SA announced on Tuesday that an agreement has been reached for its acquisition of a 97.87 percent stake in EPALME SA, whose modern facility produces aluminum billets using pure aluminum ingots and recyclable scrap.

Founded in 1973, EPALME and is today the largest independent aluminum recycler in Greece.

Over the years, the company has established itself both in Greece and abroad by adapting its production to high quality standards and the needs of international clients as well as the needs of Greek exporters.

The plant’s annual capacity is currently 35,000 metric tons, with a workforce of 64 people.

Through extended and targeted investments, Mytilineos plans to increase productivity and efficiency, while production is expected to reach 50,000 tons over the next two years. 

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