Following the 131569/30.11.2017 decision of the Hellenic Ministry of Finance and Development, the absorption procedure of ELVAL S.A. by HALCOR S.A. has been completed on the 30th November 2017 with the simultaneous change of the name of HALCOR METAL WORKS S.A. to “ELVALHALCOR HELLENIC COPPER AND ALUMINIUM INDUSTRY S.A.”.
The aim of the merger between ELVAL and HALCOR is to create a new company (ELVALHALCOR S.A.) with a stronger financial base, which will place the new entity among the leading international industrial producers in the fields of aluminium and copper.
In the new corporate structure, the two divisions, aluminium rolling under the ELVAL trademark and copper tubes under the HALCOR trademark, will maintain their individual activities. The broader base of the new company will facilitate access to financial markets, for further strengthening of production activities, while synergies and economies of scale will be utilized to further optimize plant operations. Furthermore, the combined Research & Development and know-how will contribute in providing a wider spectrum of added value products and solutions.
source: www.elval.gr, www.halcor.gr, www.evalhalcor.com