American Aluminium Extrusion has acquired all stocks owned by businessman Diane Hendricks after 22 years of joint ownership held by Sam Popa and the former.
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Located in Roscoe, Illinois, American Aluminium Extrusion provides the local semitrailer manufacturing industry with aluminium profiles. The age-long collaboration between Sam Popa, owner of American Aluminium Extrusion and Beloit business giant Diane Hendricks ended after the total buy-out was conducted on January 16.
The 22 years of joint ownership by Popa's share of American Aluminum Extrusion and Hendricks's group of business holdings will now be listed under Popa Holdings, as was confirmed by Popa. The acquisition also includes the company's manufacturing units in Roscoe and Canton, Ohio.
American Aluminium Extrusion successfully bought out all the available stocks in the company owned by Hendricks, and Popa declared that the operations would continue under the previously set five-year growth plan. However, he did not reveal any financial details of the acquisition yet. The company would majorly focus on the semitrailer industry and the construction sector or the architectural aluminium market, meeting each department's specific requirements.
American Aluminium Extrusion supplies an estimated 100 million pounds of aluminium to fabricators, wherein enlisted are prime producers of semitrailers such as regional brand Stoughton Trailers.
As Popa clarified to the sources, about 180 people are employed at the American Aluminium Extrusion's Roscoe plant, and approximately 100 heads are active at the Ohio plant.
American Aluminium Extrusion once used to have a manufacturing facility in the Iron Works compound in Beloit, but the entire operation with workers was shifted in 2016 to the Roscoe facility.
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