Gränges has signed an agreement to acquire remaining 49 per cent of GETEK GmbH and the business Dispal®
Gränges has signed an agreement to acquire the remaining 49 per cent of the shares in GETEK GmbH as well as the business Dispal®, including 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. The acquisition is a good strategic fit for Gränges and strengthens the platform for profitable growth.
GETEK GmbH produces aluminium billets utilizing advanced spray-forming technology. The company has two production facilities located in St Avold in France and in Velbert in Germany, with a combined annual production capacity of 3,500 tonnes. In 2019, GETEK GmbH’s sales amounted to EUR 6.3 million and the company had 22 employees.
The Dispal® business is a range of high-performance spray-formed aluminium materials with a stable customer base. Through the acquisition, Gränges will reach customers in new segments in high-tech industries such as aerospace and industrial robots.
“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 powder materials. It is a good strategic fit for Gränges and enhances our platform for sustainable profitable growth,” says Johan Menckel, CEO of Gränges AB.
GETEK, including the business Dispal®, will be a wholly owned subsidiary of Gränges AB and a part of Gränges Europe’s operations.
The transaction is expected to have a neutral effect on Gränges’ earnings per share. The GETEK acquisition is expected to be completed in the fourth quarter 2020 and the acquisition of the business Dispal® is expected to be completed in the first quarter 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
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 Thursday 17 September 2020, at 16:45 CET.
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.
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.