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Alcan to Sell French Unit Satma to Italy's Almeco for an Undisclosed Sum
- China Aluminium Network
- Post Time: 2007/4/25
- Click Amount: 573
Canadian aluminum maker Alcan Inc. said Monday it agreed to sell its Satma subsidiary to Italy's Almeco Spa for an undisclosed sum. Satma, located in Goncelin, France, generated revenue of 34 million euros ($46.2 million) last year making capacitor foil for the electronics industry and anodized strip products for lighting and decoration markets. Almeco specializes in anodized strip for the same markets.
Satma "no longer fits into engineered products' core business," said Christel Bories, president and chief executive of Alcan's engineered products segment, in a statement.
Final terms of the agreement are expected to be completed after meeting with representatives of Satma's 138 employees. The transaction is slated to close in May
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