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Gränges to Acquire Aluminium Konin-The 21st China(Guangzhou) Int’l Forging Industry Exhibition
12/5/2019 鍛造展- Forging Industry exhibition - Forging expo |
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Gränges AB has signed an agreement to acquire the Polish flat rolled aluminium producer Aluminium Konin from Boryszew Group. Gränges has signed an agreement to acquire Aluminium Konin for SEK 2.3 billion on a cash and debt free basis, Enterprise Value, corresponding to an EV/EBITDA multiple of 6.9x LTM September 2019 EBITDA. Aluminium Konin operates a highly developed and cost competitive integrated rolling mill located in Konin, Poland, with an annual capacity of 100,000 tonnes. The company offers a broad range of flat rolled aluminium products with good profitability.
The acquisition strengthens Gränges’ product offering and presence in Europe and contributes with strong positions in new attractive niche markets. Aluminium Konin adds new capabilities and capacity to expand Gränges offering for future transportation solutions, such as electric vehicles, and contributes to a stronger position in growing markets. The acquisition is a good strategic fit for Gränges and enhances the company’s platform for sustainable profitable growth.
Gränges will complete an expansion program initiated by the seller, of SEK 1.1 billion over three years, to further strengthen Aluminium Konin’s capabilities and increase the annual capacity to 140 ktonnes.
To finance the acquisition, Danske Bank, Nordea Bank and Svenska Handelsbanken are providing a SEK 2.3 billion bridge loan facility with a time to maturity of 18 months.
The Transaction is subject to regulatory approval by the relevant competition authorities. Closing is expected in the second quarter of 2020.
鍛造展-第二十一屆廣州國際鍛造工業展覽會
-The 21st China(Guangzhou) Int’l Forging Industry Exhibition
- Forging Industry exhibition, Forging
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