The market situation resulting from Russia’s aggression against Ukraine creates risks in the short term, but in the long term it may bring benefits for Alumetal, according to its CEO Agnieszka Drzyżdżyk.
“In our opinion, it seems that this situation should be analyzed in two time horizons. In the short term, this conflict generates additional risks: certainly further problems in supply chains for the automotive industry in Europe, increased business uncertainty or potential changes in consumer behavior,” said Drzyżdżyk during a conference call.
At the same time, in the long run, the situation may turn out to be favorable for Alumetal in terms of business.
“First of all, it may be visible in the improvement of the situation on the labor market, in strengthening the process of shortening the supply chain and relocating production to the European market, or replacing primary aluminum, for example that produced in Russia, with our recycled aluminum,” added the president.
Drzyżdżyk stressed that Alumetal does not buy raw materials from suppliers from Ukraine, Belarus or Russia.
The Alumetal capital group operates in the foundry and metallurgical industry in the production of secondary aluminum, i.e. the production of aluminum casting alloys and primary alloys from aluminum scrap. The Alumetal Group is a national leader in this field and is the fourth largest producer of secondary aluminum alloys in Europe. The company has been listed on the WSE since July 2014. Its consolidated sales revenues reached PLN 2.19 billion in 2021.
Source: Alumetal and ISBnews
