Granges announced that it wholly owns GETEK GmbH and Dispal after purchasing the remaining 49pc share from Erbsloh Aluminium GmbH, a WKW group company.
Granges has owned 51pc of GETEK GmbH since 2017, but it will assume full control of both businesses with this €8.5mn ($10mn) purchase, which is slated for completion during the first quarter of next year. With the acquisition, Granges is eyeing growth in new segments, like aerospace and industrial robotics.
GETEK GmbH produces close to 3,500mt of aluminium billets annually at its facilities in France and Germany, and has sales totaling €6.3mn. The Dispal business produces spray-formed aluminium material.
€1 = $1.18