The Group has developed in the past years an important activity with regard to mining and metallurgy of basic metals and holds an eminent position in the Balkans in the production and trade of aluminum, zinc, and lead.
In 2005, the acquisition of Alcan Inc. majority shareholding in Aluminum of Greece - the largest mining and metallurgy plant of the country - constituted an important step for the Group further development.
Mytilineos Group total energy, industrial and environmental investments in Agios Nikolaos, Viotia, where the factory plant of Aluminum of Greece is located, are the largest to have been realized in Greece in the private sector for the three-year period 2005-2007 with broader results as
- They significantly contribute to the region development and new jobs creation.
- They facilitate the penetration of natural gas in the country reducing the country's oil dependence.
- They strengthen the country's southern electricity system by significantly reducing blackout potentials in Athens.
- They substitute 300 MW of lignite production, thus contributing potentially to the reduction of carbon dioxide emissions by about 1.5 million tons per year, thus, supporting the National objective not to increase national CO2 production over 25% in relation to the 1990 levels.
In parallel with the appropriate investments, the Group develops expenditure cut programs, capitalizing on advanced balancing tools possibilities for financial performance optimization in the upcoming years.
The Group's Strategy in the certain sector focuses on the following points:
- competitiveness increase through cost reduction programs and investments.
- provision of optimized product and solutions to clients rather than a simple supply of commodities.
- quest for new verticalisation or enlargement projects for the sector enhancement.