STOCKHOLM, Sweden, May 01, 2003 (PRIMEZONE) -- Sapa AB (Other OTC:SPKKF) has today entered into a binding agreement with the main owner Aluclaeys Finance NV to acquire 56 per cent of the shares in Remi Claeys Aluminium (RCA). The price of 27.2 euro per share is a reduction of 0.6 euro per share compared to the preliminary agreement. The price per share corresponds to a total value of RCA's shares of 75 million euro.
The agreement is subject to approval by relevant competition authorities, whereafter Sapa intends to launch a bid of 27.2 euro per share for the remaining shares in RCA.
"Strategically, Remi Claeys Aluminium is well suited to Sapa's operations in Profiles, Building Systems and Heat Transfer. The acquisition will strengthen our market positions in the Benelux countries, France and Germany," said Staffan Bohman, President and CEO of Sapa.
Remi Claeys Aluminium is one of Europe's largest independent producers of aluminium profiles, aluminium profile based systems and welded aluminium tubes with branches mainly in Benelux, France and Germany. The Group's net sales in 2002 was M 293 Euro and the operating margin amounted to approximately 4.5 per cent. Remi Claeys Aluminium has 1,100 employees. Remi Claeys Aluminium is listed on Euronext Brussels.
Sapa is an international industrial group, which develops and markets value-added aluminium profiles, profile-based components and systems, and heat exchanger strip in aluminium. Sapa has an annual turnover of approximately 11 billion SEK, with 6,500 employees all over Europe and in USA and China. Sapa is one of Europe's leading companies within its field and the customers are found in the transport, building, engineering and telecom industries. Sapa is listed on Attract40 on the O- list of Stockholmsborsen.
Further information about Sapa can be found on our web site www.sapagroup.com
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