Gränges to acquire Poland's Aluminium Konin for €218m

Sweden's Gränges AB, a supplier of rolled aluminium products for heat exchanger applications and other niche markets, has signed an agreement to acquire the Polish flat rolled aluminium producer Aluminium Konin from Boryszew Group for SEK 2.3-billion (€218-million).

The acquisition is set to strengthen Gränges product offering in Europe and brings new capacity and capabilities to expand the Swedish firm's offering for future transport solutions, as well as a strong position in several niche markets.

Aluminium Konin operates a highly developed rolling mill in Konin, Poland, with an annual capacity of 100 ktonnes and offers a broad range of flat rolled aluminium products.

“Aluminium Konin contributes with technically advanced operations, strategically located in Central Europe. The acquisition is a good strategic fit and complements our business and geographic presence. Together we are creating a strong platform for product mix optimisation and sustainable profitable growth," says Gränges’ CEO Johan Menckel. 

"The acquisition will sharpen our competitive strength and create a stronger position in growing markets to further drive the development of sustainable customer offerings,” Menckel added.

“With an even stronger position in growing markets and a broader offering of solutions for future vehicles and other applications, Gränges will be able to further drive the development of sustainable customer offerings. With Gränges’ successful track record of acquisitions and ability to minimise the environmental impact of its operations, we are confident that Gränges will continue to create long-term profitable growth," said Jannis Kitsakis, Senior Portfolio Manager at The Fourth Swedish National Pension Fund, the largest shareholder in Gränges.

The acquisition is still subject to regulatory approval.

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