Sapa entered into an asset purchase agreement with U.S. aluminum-extrusion company Indalex for the purchase of substantially all of Indalex’s assets in the U.S. and Canada. Under the agreement, Sapa would acquire Indalex’s 10 active plants in the U.S. (six) and Canada (four) with 29 presses and a total capacity of about 315,000 metric tons/year. The transaction would allow Sapa to improve its geographical presence in North America. The company would also be better positioned to service customers through improved fabrication, painting and anodizing capabilities. Final approval of Sapa’s agreement is expected by the end of July.
Sapa, which is part of Norwegian Orkla ASA, is the largest aluminum-profiles producer in the world. Lincolnshire, Ill.-based Indalex Holding Corp., a wholly owned subsidiary of Indalex Holdings Finance Inc. through its operating subsidiaries Indalex Inc. and Indalex Ltd., is the second largest producer of soft-alloy extrusion products in North America.
Sapa to Acquire Indalex
June 25, 2009