ALUMIL administration of, according to the Board of Directors decision on 23/2/2011 announces that it would merge its (100% owned) subsidiaries INTERNO SA, ALOUKOM SA and ALUMIL SOLAR SA, by acquisition, in accordance to Article 78 in conjunction with Law No. 69-77 of 2190/20, in its effort to reduce operating costs and improve the company's management structure. The completion of the merger is subject to receipt of all necessary corporate decisions (a draft merger agreement, decisions by corporate bodies) from all participating companies, compliance with legal formalities and receipt of the necessary approvals.
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ALUMIL is ranked among the largest aluminium extrusion and profiles production private European groups (No 1 in Greece since 2000) establishing production sites, large sales networks and warehouses for products targeting architectural & industrial use, shipbuilding, transportation, etc. With 28 subsidiaries, 22 of which are spread throughout Europe, Africa and the Middle East, ALUMIL provides production sites in four Hellenic industrial areas, Romania, Bulgaria, Serbia, Bosnia and Albania. ALUMIL has successfully infiltrated into 45 markets in Europe, the Balkans, the M. East and in the U.S.A. A significant competitive advantage remains its widespread sales network in Greece and in every client-country. Parent company was founded in 1988 and since 1998 is listed in the Athens Stock Exchange. Included eight times in GrowthPlus' Europe's 500 for its contribution to the European economy, ALUMIL Group sales surpassed € 209 m. in 2009, EBITDA reached € 16.9 m. Alumil is an associated member of the European Aluminium Association as a recognition of the Company's significant contribution to the field of design and production of architectural aluminium systems, and industrial profiles.
(Symbols: Athens Stock Exchange: ΑΛΜΥ, Reuters: ALMr.AT, Bloomberg: ALMY GA, Telerate (Bloomberg): GR;ALMY).