Approval of Gränges acquisition in US is postponed to the beginning of August
Gränges AB (publ) (“Gränges”) won the court supervised auction to acquire Noranda Aluminum Holding Corporation’s (“Noranda”) downstream aluminium rolling business in the United States, which was announced on 8 July, 2016. Completion of the acquisition is subject to an approval by the US Bankruptcy Court. The court hearing regarding this approval has been adjourned to 4 August, 2016, a decision is now expected in the beginning of August at the earliest.
Gränges view is that the adjourned hearing not is expected to affect the outcome in Court. Closing is expected during third quarter of 2016.
For further information, please contact:
Pernilla Grennfelt, Director Communications and IR of Gränges
email@example.com, tel: +46 702 90 99 55
The information in this press release is such that Gränges must disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on Friday, 29 July, 2016, at 07.00 CET.
Gränges is a leading global supplier of rolled products for brazed aluminium heat exchangers. The company develops, produces and markets advanced materials that enhance efficiency in the customer manufacturing process and the performance of the final products; brazed heat exchangers. The company’s geographical markets are Europe, Asia and the Americas. Its production facilities are located in Finspång, Sweden, and Shanghai, China, and have a combined annual capacity of 220,000 metric tonnes. Gränges has some 950 employees and net sales in 2015 totalled SEK 5,494 million. Its shares have been listed on Nasdaq Stockholm since October 2014. More information on Gränges is available at granges.com.