STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Gränges AB (publ) (“Gränges”) won the court supervised auction to acquire Noranda Aluminum Holding Corporation’s (“Noranda”) downstream aluminium rolling business in the United States, which was announced on 8 July, 2016. Completion of the acquisition is subject to an approval by the US Bankruptcy Court. The court hearing regarding this approval has been adjourned to 4 August, 2016, a decision is now expected in the beginning of August at the earliest. Gränges view is that the adjourned hearing not is expected to affect the outcome in Court. Closing is expected during third quarter of 2016.
The information in this press release is such that Gränges must disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on Friday, 29 July, 2016, at 07.00 CET.
About Gränges
Gränges is a leading global supplier of rolled
products for brazed aluminium heat exchangers. The company develops,
produces and markets advanced materials that enhance efficiency in the
customer manufacturing process and the performance of the final
products; brazed heat exchangers. The company’s geographical markets are
Europe, Asia and the Americas. Its production facilities are located in
Finspång, Sweden, and Shanghai, China, and have a combined annual
capacity of 220,000 metric tonnes. Gränges has some 950 employees and
net sales in 2015 totalled SEK 5,494 million. Its shares have been
listed on Nasdaq Stockholm since October 2014. More information on
Gränges is available at granges.com.
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