Gränges completes acquisition of GETEK GmbH and creates the new business unit Gränges Powder Metallurgy
Gränges’ previously announced acquisition of the remaining 49 per cent of the shares in GETEK GmbH was closed today. In connection with the acquisition, the name of the company will be changed to Gränges Powder Metallurgy GmbH and will constitute a new business unit within Gränges, focusing on advanced aluminium powder and spray forming technology.
Today’s press release follows the announcement on 17 September 2020 of Gränges’ agreement to acquire the remaining 49 per cent of the shares in GETEK GmbH as well as the business Dispal®, including production assets, intellectual properties and trademark Dispal®, for EUR 8.5 million from Erbslöh Aluminium GmbH, a WKW.group company. GETEK GmbH has been jointly owned by Gränges (51 per cent) and Erbslöh (49 per cent) since 2017. Read more >>
Gränges Powder Metallurgy GmbH, including the Dispal® business, forms the new business unit Gränges Powder Metallurgy, which from 1 October 2020 will be a wholly owned subsidiary within Gränges AB and part of Gränges Europe's operations.
“The new business unit Gränges Powder Metallurgy creates a strategically important platform for growth within new materials technology on the fast-growing market for powder materials and additive manufacturing,” says Johan Menckel, CEO of Gränges AB.
The acquisition is a good strategic fit for Gränges and strengthens the platform for profitable growth. GETEK and Dispal® adds new capabilities and capacity to expand Gränges’ offering of advanced aluminium materials within current and new customer segments. The acquisition will provide Gränges with capabilities for and give access to the fast-growing market for additive manufacturing (so called industrial 3D printing) powder materials.
Gränges Powder Metallurgy will be headed by Filip Fernqvist, currently Manager Strategic Projects at Gränges AB. Filip will report to President Gränges Europe.
The transaction is expected to have a neutral effect on Gränges' earnings per share for the current and next year.
The acquisition of the Dispal® business will be completed with effect from 1 January 2021.
For further information, please contact:
Johan Menckel, CEO of Gränges AB
email@example.com, tel: +46 8 459 59 00
Johan Dufvenmark, VP Group Treasury & Investor Relations
firstname.lastname@example.org, tel: +46 705 97 43 75
About GETEK GmbH
GETEK GmbH is a production company with two production facilities, one in St Avold in France and one in Velbert in Germany, with a combined annual production capacity of 3,500 tonnes. The company produces aluminium billets utilizing advanced spray-forming technology. In 2019, GETEK GmbH’s sales amounted to EUR 6.3 million and the company had 22 employees.
Dispal® is a range of high-performance aluminium materials. Components made from Dispal® materials have customized thermal expansion rates, optimal wear and tear properties, higher stability and rigidity, very good heat dissipation and low weight in comparisons with other materials. Through the acquisition of the Dispal® business, Gränges will reach customers in new segments in high-tech industries such as aerospace and industrial robots.
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 per cent. The company develops, produces and markets advanced materials that enhance efficiency in the customer manufacturing process and the performance of the final products. 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 460,000 metric tonnes. Gränges has 1,800 employees and net sales of SEK 12 billion. The share is listed on Nasdaq Stockholm. More information on Gränges is available at www.granges.com.