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
Oslo, March 8th 2011
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