Aluminum products manufacturer Sapa Group plans to buy bankrupt aluminum extruder Indalex in a move that could increase the Scandinavian company’s North American extrusion capacity by as much as 315,000 metric tons annually.
The $95 million purchase plan is to be presented to a bankruptcy court judge for approval in an early July auction of assets.
According to a press release from Sapa, the possible purchase would include Indalex’s 10 active plants in North America, six in the United States and four in Canada.
The Illinois-based Indalex has about 1,400 employees and 29 presses. It marked 200,000 tons sold in 2008, representing sales of more than $900 million.