Swedish rolled-aluminium manufacturer Gränges acquired the entire utilities infrastructure from Jernbro on its industrial premises in Finspång. The facilities – for which Gränges paid SEK93 million (EUR 8.65 million) – are meant to help the company secure a reliable and long-term supply of energy and other utilities.
Gränges expects the purchase to affect its cash flow numbers in the second quarter of 2019, but will eventually have a positive impact on company’s profits. Along with the acquisition, Gränges signed an agreement with Jernbro for maintenance and operations of the utilities infrastructure.
Gränges’ sells its rolled aluminium products for heat exchanger applications in Europe, Asia and the Americas. The company has production facilities in Sweden, China and the United States, and have a combined annual capacity of 420,000 metric tonnes. Gränges employs some 1,800 people and boasts net sales of more than SEK 13 billion.