Consortium acquires Meridian.Meridian Technologies, Ontario, Canada, a magnesium diecasting company, is to be acquired by a consortium of investors led by the Norwegian entrepreneur Jostein Eikeland through his Swiss holding company Estatia AG. Current owners of Meridian--Teksid SpA, Turin, Italy, and Norsk Hydro Norsk Hydro ASA (OSE: NHY, NYSE: NHY) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. Hydro is the fourth largest integrated aluminium company worldwide. It has operations in some 40 countries around the world and is active on all continents. ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and , Oslo, Norway--have agreed to sell 100% of the equity of the company to the consortium for an enterprise value of $200 million in an all-cash transaction. Meridian has the largest market share in the magnesium diecasting market, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a company press release. It also is the only magnesium die caster with manufacturing, engineering and sales operations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia. Customers include General Motors, Ford, DaimlerChrysler, Fiat, Opel, VW, LandRover and BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. . The acquisition of Meridian Technologies substantially increases the magnesium-based interests of Eikeland, who already has a 28% equity holding in Tonsberg Magnesium Group International, Stockholm, Sweden. |
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