Norway's Sapa to Buy U.S. Aluminium Firm

Norwegian aluminium producer Sapa said on June 17 it had signed a deal with Indalex for "the possible purchase of substantially all of Indalex's assets in the U.S. and Canada."

Under the terms of the deal Sapa would buy Indalex's 10 aluminium plants with a total capacity of 315,000 tons of per year, Sapa said.

"The planned purchase represents an underlying enterprise value of approximately $95 million for the business," it said.

Indalex employs about 1,400 people in the U.S. and Canada.

Copyright Agence France-Presse, 2009