Sapa: Acquisition of Anodizing Inc, USA Finalized.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Sept. 6, 2000 The acquisition of Anodizing anodizing Method of coating metal for corrosion resistance, electrical insulation, thermal control, abrasion resistance, sealing, improving paint adhesion, and decorative finishing. Inc. of Portland, Oregon in the US was finalized See finalization. on September 1, 2000. Anodizing, which is located on the West Coast of America, focuses on aluminium profiles and finishing which is complimented by an expertise in fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. and other product based processes. The company has sales of approximately MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner 1300 and employs 930 people. The company has five extrusions presses, two anodising plants, vertical and horizontal paint lines, a miniature extrusion facility, in addition to its five fabrication and assembly plants. In all 500,000 sq. ft of facilities within a 7 mile radius of the centre of Portland. Anodizing Inc. was founded in 1964. "By entering into the US through Anodizing Inc., we get a strong foothold foot·hold n. 1. A place providing support for the foot in climbing or standing. 2. A firm or secure position that provides a base for further advancement. foothold Noun 1. for further expansion and a solid presence in a market where we have not been active before," says Staffan Bohman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sapa. Anodizing Inc. will be consolidated in Sapa from the 1st of September. The purchase price amounts to MUSD 110 (app. MSEK 1030), including debt. Sapa is an international industrial group focused on high value-added products based on the lightweight materials aluminium and plastics. The products range from profiles and heat-transfer strip in aluminium to components and systems in plastics for the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . Sapa is one of Europe's leading companies within its field and the customers are found in the transport-, building, engineering- and telecom industries. Sapa is registered on the A- list of the OM Stockholm Exchange. Further information about Sapa can be found on our homepage; www.sapa.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/09/06/20000906BIT00700/bit0001.doc http://www.bit.se/bitonline/2000/09/06/20000906BIT00700/bit0002.pdf |
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