Metra S.p.A., the Italy-based manufacturer of vertically-integrated complex extruded aluminium profiles, has reportedly completed the acquisition of Extruded Aluminium Corp. (EAC), Michigan-based recycled-content aluminium producer, and its affiliated company Belding Machinery and Equipment Leasing LLC.
The news came after Metra CEO Enrico Zempedri officially announced the acquisition completion, saying: “The acquisition of EAC marks a significant milestone for Metra as it accelerates our geographic expansion within North America and continues our end-market diversification strategy, including entry into the high growth North American utility grade solar industry.”
However, while announcing the news, Metra did not disclose the financial terms of the transaction.
Belding Machinery, an affiliated firm of Metra S.p.A., makes extruded aluminium profiles and offers related fabrication, assembly, and finishing services. Last month, the company signed a deal with solar systems equipment maker Array Technologies to supply recycled-content extrusions.
Metra, in addition to manufacturing extruded aluminium profiles, is involved in high value-added services, including painting, oxidation, machining, welding and assembly. With eight production plants strategically located in Italy, the United States, and Canada, Metra has a production capacity of over 100,000 tonnes per year.
About a month ago, Metra entered into a technological alliance with Hindalco to provide its expertise in large-size aluminium extrusion and production technology for developing India’s state-of-the-art superfast aluminium railway coaches.
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