The Q4 2020 Quarterly Report can be downloaded here.
2021 will be a big year thanks to the progress made in last quarter of 2020, according to the Q4, 2020 Report (viewable here) released today, hailed as a ‘landmark quarter’ for Romco by CEO, Raymond Onovwigun.
“We are building towards a big 2021. With the groundwork complete on our new facility in Ghana, alongside a trade agreement signed with Nissan Trading Co., Ltd., Q4 2020 has been a landmark quarter for our organisation”
Last year was not easy for the industry, marked by the COVID-19 pandemic; lockdowns, disruptions, travel restrictions, illnesses, and supply-chain issues. Romco were not insulated from the turbulence. However, amidst the complications, the Q4 2020 Report shows the Romco Group grew in revenue and size, reinforcing the viability and stability of the model during challenges. Markedly, Romco also completed the construction of a second recycling facility, Romco Ghana, and a signed a significant trade agreement with automotive company Nissan Trading Co., Ltd.
Romco Ghana is the facility that proves Romco Group’s recycling model is replicable throughout the continent. The brand new facility boasts two new furnaces that increase overall recycling capacity to 3000mt per month, competing with the largest players in the region, and laying a platform for scalable growth that can lead to market dominance. Timely, as Romco agreed on a long term supply contract with Nissan Trading Co., Ltd, (subsidiary supplier to Nissan Motor Co., Ltd.) supplying secondary aluminium for automotive manufacturing in Japan.
The deal, worth up to $USD1.5million a month, is for between 500 to 750 metric tonnes (mt) of aluminium per month and is one of our most exciting partnerships to date, where we grow as their production grows.
More details about our announcements and detailed metrics of ROMCO Group’s revenue increases, emissions decreases, production, and finance can be found in the Q4, 2020 Report here.