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Stylianos Tsoktouridis, Managing Director, Alumil Yu Industry a.d.

Our Investment Plans Support Market Demands

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As the largest group for the production of aluminium extrusions in Southeast Europe, Alumil remains determined to invest more in Serbia and continue supporting the local economy and the development of the domestic industrial sector

We have acquired land and plan to start the construction of a new industrial building. This investment plan will double our capacity and that translates to at least 60 to 100 direct job positions – says Alumil Yu Industry MD Stylianos Tsoktouridis in this interview

The Serbian construction sector has been experiencing a major expansion. Is this trend set to continue and what does it mean for Alumil?

– We are experiencing continuous growth in the value of construction projects in Serbia that started in 2019, when the value of the projects increased by 35% compared to 2018, and that continued in 2020. Specifically, according to the statistical office, GDP from construction in Serbia increased to 82,934 million dinars in the fourth quarter of 2020, from 66,827.20 million dinars in the third quarter of 2020.

In the real estate market, despite ever-increasing prices, sales are growing and most buyers are looking to buy apartments in new buildings. Belgrade has become one of the most attractive locations in Europe to invest in the construction sector, according to reports by Radio Television Serbia (RTS).

According to other media reports, there are 55,000 active construction sites in Serbia, four times as many as there were in 2015. The World Bank has ranked Serbia among the top 10 countries in terms of the speed of issuing of building permits in the last five years.

This information is an indicator of a dynamically growing and healthy market, which Alumil has focused its efforts on supporting better by further improving its services, in terms of local just-in-time production and delivery, technical and engineering support and, most importantly, through its product portfolio, in order to meet and even exceed the expectations of architects, investors and construction companies.

The value of projects in Serbia increased by 35% in 2019 compared to 2018, and that continued in 2020

The market is becoming increasingly demanding, while competition is ever stronger. How do you overcome the challenges?

– Alumil is dedicated to providing solutions for our esteemed customers, on time and at competitive costs, by continuously investing in production and distribution facilities in Serbia, inventories of products ready for delivery, trained and expert personnel, marketing activities and our showroom. The Serbian market is changing rapidly and new demands are born every day. Modern buildings require the design and construction of fenestration systems with high standards. By always focusing on the specifications and requirements of the most advanced markets worldwide, Alumil has created a product portfolio that incorporates innovative products and responds perfectly to modern building needs. The needs of our customers are quite broad, and so is our product portfolio. Each of our products was designed with one thing in mind: how to provide the best possible solution and maximise the value for our customers.

How far have you progressed on the implementation of your investment plan? Does this also mean new jobs?

– Although our investment programme has slowed down due to the COVID-19 situation, we remain determined to invest more in Serbia and continue supporting the local economy and the development of the domestic industrial sector. As of today, we have acquired land and plan to start the construction of a new industrial building. According to the updated plan, provided the crisis caused by the pandemic abates, the installation of the new extrusion line should be completed within the next two years. There is a third phase to our investment plan, to be implemented at a later stage, that includes the installation of an anodising line in a building that was already completed during the previous year. Of course, this investment plan will double our capacity and that translates to at least 60 to 100 direct job positions, many of which require highly educated, specially trained personnel.

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