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ElvalHalcor plans 100 mln euros of investments to boost global presence

New investments will further upgrade the production capacity of the plant in Oinofyta from 350,000 tons per year - or about a 1,000 tons per day - to 520,000 tons by 2023. All these moves are made at a time when demand for specialized aluminum products is growing at a galloping pace worldwide as aluminum emerges as the metal of the future.

ElvalHalcor, the largest subsidiary of the Viohalco group, unveiled yesterday a new two year investment program worth 100 million euros, aiming to conquer even more international markets, at a time when the demand for its products is at historic highs.

New investments will further upgrade the production capacity of the plant in Oinofyta from 350,000 tons per year - or about a 1,000 tons per day - to 520,000 tons by 2023. All these moves are made at a time when demand for specialized aluminum products is growing at a galloping pace worldwide as aluminum emerges as the metal of the future.

The need to reduce weight and adopt an environmentally friendly material makes aluminum the right choice for the circular economy and sustainable development. In the summer of 2020 one of the largest private investments in recent years was completed in Greece, which makes Elval a global player in the aluminum rolling industry.

The investment amounted to 150 million euros and makes the Elval plant the most modern aluminum rolling units in Europe and one of the most modern in the world. Through all these investments, the Greek industrial group is being upgraded and is now undertaking particularly demanding projects worldwide, in sectors such as automotive, aeronautics, construction, yachting, food and much more.

As Michalis Stasinopoulos, Chairman of the Board of ElvalHalcor, stressed yesterday, "ELVAL has grown organically, not through acquisitions, it has emerged through accumulated experience and culture over the decades."

He also noted that since the transfer of Viohalco's headquarters abroad, the investments made by the group companies in Greece have reached 1.5 billion euros.

Elval has the most advanced quadruple hot roller in the world and is the 2nd largest factory in Europe in hot rolled production capacity. 86% of its turnover comes from sales outside Greece in about 100 countries.

ELVAL is the largest export company in the country after Hellenic Petroleum, accounting for 4% of Greek exports. As stressed by Nikolaos Karabateas, Deputy General Manager of ElvalHalcor, the global aluminum market is 30 million tons, with the Greek company controlling 1% of the global market, while in some sectors its share reaches up to 7%.

He noted that the aluminum packaging industry is about 7 million tons worldwide with Elval having the largest share in Europe. At the same time, in the yacht construction market, the Greek company is first in the world with a share of 20%. One of the great advantages of aluminum is that it is 100% recyclable, so all the next years it will maintain the strong growth momentum it has, hence the large investments.

Halcor’s global presence

Halcor is the largest producer of copper pipes in Europe and together with the four production subsidiaries make up the copper branch of ElvalHalcor SA, exporting to 80 countries in what amounts to 80% of its total turnover. It is a leading player in its industry with vertical production and global competitiveness. Halcor supplies the cable lugs industry with seamless tubes made of special quality pure copper.

As noted by Panos Lolos, General Manager of ElvalHalcor copper and alloy extrusion sector, the demand for copper products worldwide led by the need for cables in the telecommunications sector.

The group has seven production facilities in Greece, Bulgaria, Turkey and the Netherlands, employs 570 people, and controls about 20% of the total European market for copper pipes.

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