Bonnell Aluminum acquires aluminium extrusion company in Utah
William L. Bonnell Co. Inc. or Bonnell Aluminum, a subsidiary of Tredegar Corp. has recently completed its acquisition of Utah-based Futura Industries Corp, a press statement from the group has confirmed. For more than 60 years, Bonnell Aluminum has built a reputation as one of North America''s leading manufacturers of custom aluminium extrusions.
Chesterfield County-based Tredegar, a maker of plastic films and aluminium extrusions announced the acquisition deal on Feb. 1 in order to expand their aluminium extrusion business. The company has said the acquisition value of about $92 million has been funded with its existing revolving credit.
Futura is one of the leading aluminium extruders in the world and the U.S. and delivers customized, start-to-finish aluminium extrusion services. Futura designs and manufactures extruded aluminium products like branded flooring trims and components for truck grills, solar panels, and fitness equipment. Futura, which has about 350 employees, will operate as a 100% subsidiary of Bonnell after the acquisition.
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The companies expect that the acquisition will drive higher standards for product quality and service through their combined significant operational expertise, complementary capabilities and geographic coverage.
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