Etem Bulgaria, the wholly-owned subsidiary of the Belgium-based holding company Viohalco and a leading regional producer of architectural systems and aluminium profiles for industrial applications, is to set up two joint ventures with the Spanish car parts maker Gestamp that will be dedicated to the extrusion and processing of aluminium profiles for the automotive industry.
Over the next three years, the €30m investment programme will focus on the installation of a new extrusion line and related machinery for further processing of aluminium profiles in Bulgaria, designed to further strengthen Etem Bulgaria’s position in the automotive sector and help to ensure it can successfully meet the increased demand for aluminium products in the domestic market.
Viohalco is listed on Euronext Brussels (VIO) and the Athens Stock Exchange (BIO) and its subsidiaries specialise in the manufacture of aluminium, copper, cables, steel and steel pipes products. With production facilities in Greece, Bulgaria, Romania, Russia, Australia, Macedonia, Turkey, the UK and the Netherlands, Viohalco’s subsidiaries collectively generate annual revenue of €3.7 billion
Gestamp Automocion focuses on the design, development and production of metal components and structure systems for the automotive industry. The company’s products portfolio includes skin panels and closure parts, structural and body components, chassis, bumpers and dashboard crossbeams, among others. Its customers include Volkswagen, Renault-Nissan, PSA, Daimler, General Motors and BMW, among others.