Sapa's agreement with Indalex complete
Today Sapa completed its purchase of US aluminium extrusion company,
Indalex, in accordance with the terms of the asset purchase agreement
entered into between them on June 16, 2009.
As a part of the purchase, Sapa acquired Indalex's eleven active
plants, six in the US and five in Canada, with two cast houses and 29
presses and a total capacity of about 315,000 tonnes per year.
Indalex's sales in 2008 were about 200,000 tonnes, representing 900
MUSD. Indalex has 1,400 employees. Through this acquisition Sapa
strengthens its geographical coverage and logistical efficiencies to
better serve North America, including an expansion into Canada.
The acquisition represents an underlying enterprise value of
approximately 95 MUSD.
"We have a strong market position and it is vital for Sapa to uphold
good customer relations, especially in a time like this. We are able
to offer our customers a range of products and services that is truly
unique. Sapa will have the ability to further develop new end use
applications in North America, benefitting the customers and the
extrusion industry as a whole. Indalex has deep production competence
and well-maintained assets. It is a well-run company. Combining Sapa
and Indalex provides a wider product range and better geographic
coverage," says President and CEO of Sapa, Bjørn Wiggen.
For further information, please contact Bjørn Wiggen, President and
CEO Sapa, or Gabriella Ekelund, Communications Director Sapa,
telephone +46-70-953 08 53.
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 strip 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 32,500 MSEK and
12,000 employees. Sapa is part of Norwegian Orkla ASA. Further
information can be found on the web site: www.sapagroup.com
Informasjonen er distribuert av Hugin.
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