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Belgium's Coil buys bankrupt Italfinish for EUR 8.7m.

August 31 (SeeNews) - Belgian aluminium anodising treatment specialist Coil NV (EPA:ALCOI) said on Friday it had acquired bankrupt Italian company Italfinish for EUR 8.7 million (USD 9.7m) in cash.

Coil has bought the entire capital of United Anodisers Srl, part of United Anodisers Group which leased the assets of family-owned Italfinish after it was declared bankrupt in 2012.

The purchase is in line with Coil's strategy to improve quality and enhance its product portfolio, Coil said.

The acquired assets include a continuous anodising line for aluminium flat-rolled coil products, an automated batch anodising line for sheet aluminium anodising, and a cut-to-length line, Coil said.

(EUR 1 = USD 1.119)

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Publication:SeeNews Belgium
Date:Aug 31, 2015
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