22 FEB 2024

New large industrial plant for the production of high-tech specialized metal structures by MYTILINEOS in the region of Magnesia

Athens, Greece - February 22, 2024 - MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (MYTILINEOS) announces the establishment of a new production unit of advanced metal constructions aiming to expand the range of manufactured products in order to exploit all possible synergies with MYTILINEOS’ existing unit in Nea Ionia, Volos.

Both units are part of MYTILINEOS’ Metals Sector.

The new unit will be built on a company-owned plot, recently purchased for this purpose in the 1st Industrial Zone of Volos.

This area was chosen as it already has excellent infrastructure, a railway connection to the port, and is fully covered by a natural gas network. The building facilities located on the new plot cover an area of ​​10 acres and four production halls, while the plan involves the construction of two additional production areas expected to cover eight acres with a lifting capacity of 20 tons. Additionally, the area of the new unit is approximately 4 km away from Nea Ionia, Volos and the existing factory, which will allow the creation of significant synergies in the operation of the two units.

For the new unit, the procurement of state-of-the-art mechanical equipment is planned, in order to be fully compatible with the mechanical facilities of the factory in N. Ionia, to ensure the same quality result that distinguishes all MYTILINEOS' production activities and the existing plant in Nea Ionia, in particular.

It is worth noting that this unit, under the Brand Name METKA-Volos, was established in 1963 with the aim of producing lightweight metal constructions. Ever since, it has developed significant expertise in highly demanding metal applications and in heavy and/or complex metal constructions with high-quality standards. Over the past two decades, it has been exporting 100% of its production.

The investment cost has been budgeted at €60 million, while production is expected to commence in the second half of 2026.

Given the expansion of the Company's activities in Volos region, new jobs will arise, which should be filled by local staff. In particular, with this investment, approximately 250 new employees will be required. Total workforce for both units in Volos is expected to reach the 600 employees overall.

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