american group Jupiter Aluminum there is already a green light National Markets and Competition Commission (CNMC) to acquire Aludium Alicante aluminum factory, with her “sisters” from Amorebieta and Castelsarrasin (France). State agency didn’t see any problems In terms of excessive market concentration, an acquisition or merger gives rise to the problems of lack of competition, as it allows the transaction without any restrictions or additional obligations.
Permission from CNMC was required. continue with the procedures and close the process Since Jupiter already owns Valencian Baux GroupIts facilities in Segorbe in Castellón and Elche de la Sierra in Albacete are dedicated to rolling and polishing aluminum from recycled material. After giving the green light from the auditor, the sale is expected to be signed in the coming weeks.
In principle, the shareholding change is not expected to lead to significant changes in the operation of the company. The same management team is expected to continue. that these days. In addition, planned investments are continued; new rotary kiln at the Alicante factory to increase recycling of “dirty” scrap, in order to further reduce the supply of raw materials from external suppliers.
This less reliance on overseas acquisitions is one of the keys to ensuring the group’s profitability in the context of current economic uncertainty that has reduced factory orders leading to an ERTE implementation in the first quarter of the year.
Aludium was born in 2015 when the North American fund was established. Atlas Holding Bought from multinational alcohol The aluminum rolling system forming its chain-run factories in Alicante, Amorebieta and Castelsarrasin. A decision you made after years of hardship and disruption.
On the contrary, the new owners have chosen to modernize the facilities and have invested heavily in bringing them up to date. They also decided to reopen the smelter at the Alicante plant, which was closed a few years ago, to bet on scrap recycling as the main source of supply of aluminum they need for their business.
The numbers began to improve until the company received a confirmation in 2021. 560 million Euro turnover and more than 36 million profits (excluding the French factory). Of course, the increase in raw material prices after the pandemic also contributed to these good data that Atlas used to put the company up for sale. make your investment profitableas is often the case with these funds.
The buyer they found is the North American group Jupiter Aluminum, which has significantly increased its presence on the European continent with this operation.
Source: Informacion
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