Gränges to sell its foil-business Eurofoil to VAW
Gränges to sell its foil-business Eurofoil to VAW Gränges has signed a Letter of Intent to sell its foil business, Eurofoil, to the German company VAW aluminium AG (VAW). Eurofoil has annual sales of approximately MSEK 1,400 and employs around 460 people. Eurofoil has production facilities in Skultuna (Sweden), Flemalle (Belgium) and Dudelange (Luxembourg) and has an annual production of around 60,000 tonnes of thin aluminium foil. The purchase price amounts to SEK 1.1 billion (enterprise value) and will result in a pretax capital gain of approximately SEK 0.6 billion. "The divestiture of