SAPA buys aluminium extrusion business in India
On 4 March 2011, Sapa Profiles India Pvt Ltd entered into an agreement with
Alufit (India) Pvt Ltd, whereby Sapa will buy the assets of Alufit related to
its aluminium extrusion business operated out of its plant in Kuppam, close to
Bangalore in southern India. The transaction is subject to various regulatory
conditions, which the parties expect to satisfy in the near future. The plant,
which was built in 2009, is an integrated one-press extrusion facility with both
powder coating and anodizing capabilities.
"It is Sapa's clear ambition to establish a strong presence in Asia. The
transaction with Alufit in India is an important step to realize this ambition.
Through this transaction Sapa will be able to extend its products and technical
expertise to the growing base of Indian customers", says Johan Menckel, Business
Area President Sapa Asia & Middle East.
Sapa has already established a manufacturing plant for extrusion based thermal
management applications in Bangalore, and the transaction with Alufit will allow
Sapa to further expand its business in India. "We expect strong growth in the
quickly developing Indian market. Customers are increasingly demanding higher
quality and more complex solutions, which Sapa will be able to supply", says
Johan Menckel.
After the completion of the transaction, Sapa would be the first global
aluminium extrusion company with local production facilities in India.
Sapa is owned 100% by Orkla ASA.
For more information please contact:
Svein Tore Holsether, Executive Vice President M&A, Orkla ASA, +47 951 55 222
Johan Chr. Hovland, SVP Corporate Communications and Public Affairs, Orkla ASA,
+47 917 63 491
Orkla ASA
Oslo, March 8th 2011
_______________________________________________________________________
About Sapa:
Sapa is the largest aluminium profiles producer in the world. The Sapa Group
develops, manufactures and markets value-added profiles, profile-based building
systems and heat exchanger solutions in the light-weight material aluminium.
Sapa is divided in the business areas Sapa Profiles, Sapa Building System and
Sapa Heat Transfer and is represented in Europe, North America and Asia. The
business concept is built on close cooperation with customers. Sapa is the
leading company in its field of operation and have customers in the building,
transport, engineering, telecom and home and office industry. The Sapa Group has
combined net sales of 33,000 MSEK and aprox 14,500 employees. Sapa is part of
Norwegian Orkla ASA. Further information can be found on the web site:
www.sapagroup.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Orkla ASA via Thomson Reuters ONE
[HUG#1495221]
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