Sapa's agreement with Indalex complete
(Thomson Reuters ONE) - Today Sapa completed its purchase of US aluminium extrusion company,Indalex, in accordance with the terms of the asset purchase agreemententered into between them on June 16, 2009.As a part of the purchase, Sapa acquired Indalex's eleven activeplants, six in the US and five in Canada, with two cast houses and 29presses and a total capacity of about 315,000 tonnes per year.Indalex's sales in 2008 were about 200,000 tonnes, representing 900MUSD. Indalex has 1,400 employees. Through this acquisition Sapastrengthens its geographical coverage and logistical efficiencies tobetter serve North America, including an expansion into Canada.The acquisition represents an underlying enterprise value ofapproximately 95 MUSD."We have a strong market position and it is vital for Sapa to upholdgood customer relations, especially in a time like this. We are ableto offer our customers a range of products and services that is trulyunique. Sapa will have the ability to further develop new end useapplications in North America, benefitting the customers and theextrusion industry as a whole. Indalex has deep production competenceand well-maintained assets. It is a well-run company. Combining Sapaand Indalex provides a wider product range and better geographiccoverage," says President and CEO of Sapa, Bjørn Wiggen.For further information, please contact Bjørn Wiggen, President andCEO Sapa, or Gabriella Ekelund, Communications Director Sapa,telephone +46-70-953 08 53.Sapa is the largest aluminium profiles producer in the world. TheSapa Group develops, manufactures and markets value-added profiles,profile-based building systems and heat exchanger strip in thelight-weight material aluminium. Sapa is divided in the businessareas Sapa Profiles, Sapa Building System and Sapa Heat Transfer andis represented in Europe, North America and Asia. The businessconcept is built on close cooperation with customers. Sapa is theleading company in its field of operation and have customers in thebuilding, transport-, engineering, telecom and home and officeindustry. The Sapa Group has combined net sales of 32,500 MSEK and12,000 employees. Sapa is part of Norwegian Orkla ASA. Furtherinformation can be found on the web site: www.sapagroup.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.08.2009 - 08:50 Uhr
Sprache: Deutsch
News-ID 4252
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