August the 25th, 2020 – Companies operating within Croatia have been hit hard by the ongoing coronavirus pandemic and its negative economic effects. Some, however, have managed to ride the storm better than others, and the Cakovec-based company LTH Alucast is one of them.
As Poslovni Dnevnik/Darko Bicak writes on the 24th of August, 2020, the Cakovec-based company LTH Alucast, owned by the Slovenian LTH Castings group, is expanding its already impressive production, for which they need new experts in the metallurgical profession.
The company, which currently employs more than 220 workers, points out that the tender for new employees in Cakovec is partly the result of a market recovery after the fall due to the coronavirus epidemic, given that orders gradually began to return back to normal levels as early as back in April and May, when the struggle was still at its height for the majority.
On the other hand, the move also represents strategic strengthening for the company, as they plan to expand and grow their business in the LTH Castings Group as well as within LTH Alucast itself.
“Our plans are to expand production capacities at the LTH Alucast location in Cakovec over the coming years. The projects have already been prepared for the first phase, and for further development, we’e bought some neighbouring land. The plans in regard to time frames for the expansion of the company’s production capacities will depend on market trends and the forecasts of our customers for the coming years, because despite the recovery of the economy, the market situation, especially in the automotive industry where major structural changes are also taking place, is still uncertain,” they stated from the company.
They added that the LTH Castings group belongs to the group of the largest European high-tech die-cast aluminum foundries. Their business is based on the production of parts for the automotive industry, working with the world’s most reputable and respected car manufacturers.
”We’re also their strategic partner in the field of vehicle electrification, which is certainly the future of the automotive industry. We use the latest technologies and sustainable approaches in our work. LTH Alucast is one of our two factories in the Republic of Croatia and one of the most modern locations in the LTH Castings group,” they stated from the company.
According to the official data of Poslovna Hrvatska (Business Croatia), LTH Alucast has experienced very large growth in the last two years, and the number of employees increased from three in 2016 to an impressive 46 in 2017, and then to 162 in the year before last and 221 in 2019.
The same situation was seen in terms of revenues, which amounted to 5.25 million kuna back in 2017, only to jump to 61.6 million next year, and last year, the company ended with 92 million kuna in revenue. Almost all of the company’s revenue, 86.4 million of it in 2019, came from exports. According to the data, 2019 was the first year in which the company made a net profit of 10.3 million kuna.
Alucast is in a large investment cycle all the time, so back in 2017, the investment in new fixed assets amounted to 76.2 million kuna, the year after it amounted to almost 20 million kuna, and last year it stood at 24 million kuna.
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