Brief: Alumetal Unit Halts Works On Subsidised R&D Project

Alumetal SA

03/04/2023 08:04

April 3 (Reuters) - Alumetal SA  AMT.WA :
    * UNIT T+S HALTS WORKS ON SUBSIDISED R&D PROJECT ON
PROCESSING
POST-PRODUCTION WASTE
    * SUBSIDY CAME FROM POLAND'S NATIONAL CENTRE FOR RESEARCH
AND
DEVELOPMENT (NCBIR)
    * WORKS WERE HALTED AS CONDITIONS OF MILESTONE IN SECOND
PART OF
PROJECT WERE NOT MET, MAKING FURTHER WORKS ON PROJECT
UNJUSTIFIED AND UNPROFITABLE
    * HALTING WORKS MEANS THAT UNIT WON'T UTILISE FULL AMOUNT OF
 25.7
MLN ZLOTYS PUBLIC SUPPORT GRANTED BY NCBIR
    * SAID THAT MOST LIKELY UNIT WON'T HAVE TO RETURN FUNDS
GIVEN SO
FAR, WHICH IS 3.3 MLN ZLOTYS
    * ALSO SAID THAT COMPANY PLANS TO CONTINUE WORKING ON
TECHNOLOGY
FOR PROCESSING OF POST-PRODUCTION WASTE AND PLANS TO TURN TO
PUBLIC SUBSIDY TO FUND IT

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM3sJ772a
 Further company coverage:  AMT.WA  

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