Competition authorities approve Gränges’ investment in GETEK GmbH
Gränges’ investment in the production company GETEK GmbH, that was announced on August 29, 2017, has received approval from the competition authorities. Gränges will invest in GETEK GmbH together with German Erbslöh Aluminium GmbH to produce aluminium billets utilizing advanced spray-forming technology.
For Gränges the investment provides opportunities to expand within Active Brazing with products such as TRILLIUM®, an innovative technology that enhances the production and performance of brazed aluminium heat exchangers.
Gränges invests EUR 4.4 million in cash for 51 percent of GETEK GmbH. Erbslöh, contributing production assets, personnel and know-how, will own 49 percent of the company. The company will serve both Gränges and Erbslöh as customers from two production facilities, one in Germany and one in France. In total, the production facilities will have an annual spray-forming capacity of around 4,000 tonnes. GETEK is estimated to have revenues of approximately EUR 3 million in 2017. The transaction is expected to have a neutral effect on Gränges earnings per share in current year.
For further information, please contact:
Pernilla Grennfelt, SVP Communications and IR of Gränges
email@example.com, tel: +46 702 90 99 55
Gränges is a leading global supplier of rolled aluminium products for heat exchanger applications and other niche markets. In materials for brazed heat exchangers Gränges is the global leader with a market share of approximately 20%. 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 Sweden, China and the United States, and have a combined annual capacity of 420,000 metric tonnes. Gränges has some 1,600 employees and net sales of more than SEK 10 billion. The share is listed on Nasdaq Stockholm. More information on Gränges is available at granges.com.