Ole Enger will continue to be a member of Orkla's Group Executive Board, and represent Orkla in REC. Lennart Evrell, who is currently President and CEO of Sapa, will continue as Executive Vice President of Sapa. Orkla Group President and CEO Dag J. Opedal will take over as Chairman of the Board of Directors of Sapa and the merged Sapa-Alcoa company.

 

On 21 November 2006, Orkla and Alcoa announced that the parties plan to merge their aluminium profile operations. The new company will be a leading global player with estimated operating revenues of NOK 26 billion and approximately 12,000 employees. The Sapa Group as a whole will have operating revenues of more than NOK 30 billion and around 15,000 employees.

 

"The Sapa Group is at the threshold of an exciting development phase. We wish to make use of Ole Enger's broad management expertise, his long experience from the aluminium business and, not least, his more than 15 years of cooperation and good relations with Alcoa. By combining the capacities of Ole Enger and Lennart Evrell, we create a strong management team," says Group President and CEO Dag J. Opedal.

 

Sapa, which is a wholly-owned company in the Orkla Group, develops, manufactures and markets value-added aluminium profiles, profile-based building systems and heat transfer strip.

 

The Sapa Group consists of the business areas, Profiles, Heat Transfer and Building System, and will include the majority share in the new merged Sapa-Alcoa aluminium profile company.

 

 

Ref:     

Ole Enger, Executive Vice President - Tel: +47 911 38 223

Ole Kristian Lunde, SVP Corporate Communications (Orkla) - Tel.: +47 22 54 44 31

Gabriella Ekelund, SVP Corporate Communications (Sapa) - Tel: +46 709 53 08 53