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The Company was established by Hungarian private individuals in 1995 when the privatization of the aluminium industry started. During the privatization the Company gradually acquired full or partial control over businesses that tied in closely with the aluminum sector (Bakony bauxite mine, Ajka alumina plant, Inota aluminum smelter), and transformed into a company limited by shares at the same time. Later the Company established a producing company (MAL-Product S.R.L.) in Rumania and a trading company (MAL-Deutschland GmbH) in Germany to enhance its market positions. The Company diversified its Hungarian portfolio too with establishing the aluminium foundry MAL-MWK Ltd. and the Várpalota Industrial Park to form the present organization of the Group known as MAL Hungarian Alu…