FORMAL MANUFACTURES SPECIAL HARD ALLOY PROFILES

Formal Aluminyum has begun manufacturing special hard alloy profiles as a result of R&D engineering studies in its new extrusion factory with a 3,500 tonne capacity. The company aims to conduct value-added exports, prevent imports and meet the need of sectors such as defense, aviation, automotive, hydraulic, shipping, automotive, pneumatic and machine industries. Formal Aluminyum recorded an export turnover of EUR 33m in 2020, 45% of which was gained from exports to European Union countries. The company aims to raise this figure up to EUR 56m this year, according to company officials. New feasibility studies in order to make sustainable investments continue, they say.