Slovalco

This article needs additional citations for verification . Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.
Find sources: "Slovalco" – news · newspapers · books · scholar · JSTOR (January 2023) (Learn how and when to remove this message)

Slovalco
Company type	Private company
Industry	aluminium
Founded	1993
Headquarters	Žiar nad Hronom, Slovakia
Key people	Milan Veselý, CEO
Products	aluminium products, aluminium alloys
Revenue	US426ドル million (2006)
Number of employees	490 (2014)
Website	http://www.slovalco.sk

Slovalco is a large Slovak metallurgical company that produced 160,000 tonnes of aluminium and alloys per annum.

In 2022, Slovalco laid off most of its 450 employees, citing high energy costs.^[1] Instead of concentrating on primary aluminium production, the company re-oriented to remelting with an expected annual output of roughly 75,000 tons.^[2] In January 2023, the company shut down the remaining 10 cells, ceasing aluminium production in the city after almost 70 years.^[3]

History

[edit ]

December 1985 - approval of project by the ČSSR's government in Prague ;
March 1986 - know - how contract signed with Hydro Aluminium and start of construction ;
1987 - carbon plant is finished
1989 - potroom is finished
1989 - last year of financing from state centralized sources
1992 - construction ceases (65% of project complete)
April 1993 - negotiation with EBRD
7 June 1993 - Slovalco is founded
July 1994 - Slovalco signs a sovereign guaranteed loan agreement with EBRD
October 1994 - EBRD and Hydro Aluminium become shareholders
June–December 1995 - the first 172 cells put into operation
1996 - full operation of electrolysis - 112,000 tons produced
August 2003 - 54 additional reduction cells put into operation - 226 cells in operation
June 2004 - the millionth tonne of aluminium produced

Ownership

[edit ]

Slovalco is owned 44.7% by a Slovak company called Penta Investments while the remaining 55.3% is owned by Norwegian company Hydro Aluminium part of Norsk Hydro based in Oslo, Norway.