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Mytilineos Holdings to invest EUR 400 mln in new aluminum production unit

posted onJuly 3, 2017
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Mytilineos Holdings S.A., one of the largest Greek corporations active in the Heavy Industries, announced a 400 million euro investment for its aluminum production complex at the Aspra Spitia, Voiotias, Greece. The project was announced during a regular general shareholders’ assembly in Athens on Thursday June 1st.

In general terms, the group’s management said a second production unit will be built to boost output by one million tons, on top of the current capacity of 820,000 tons.

Thursday’s general assembly was also significant for the fact that the Mytilineos group formally merged with the Aluminium of Greece SA conglomerate – following approval by a majority of shareholders.

From 1960 to this day, Aluminium of Greece remains one of the strongest pillars of Greek industry, with an annual production capacity that exceeds 182,000 tons of aluminium and 820,000 tons of alumina.

Once the last remaining bureaucratic hurdles are cleared, Mytilineos promised to complete the unit in 18 months from the beginning of construction, while creating 300 new jobs in the process.

Mytilineos Holdings S.A. is one of the largest Greek corporations, active in the sectors of EPC Projects, Metallurgy & Mining and Energy since 1908.The Group remains family controlled, currently chaired by Evangelos Mytilineos. Today it has presence in Europe, Middle East and North Africa, with activity in 29 countries and a workforce of more than 2,700 employees in Greece and abroad.  In 1995, Mytilineos Holdings S.A. was listed on the Athens Exchange and its share is today a constituent of the FTSE 25 Large Capitalisation index.