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Sapa completes divestment of MPE business in Harderwijk
Edited by : AL CIRCLE
1 min read
Sapa has completed the divestment of its multi-port extrusion business in Harderwijk, Netherlands, to Standard Investment.
The sale agreement, signed on December 20, 2013, has been formally approved by the European Commission. The transaction was completed on February 20.
The divestment of the Harderwijk-based operation (HE Tubing Netherlands B.V.) was one of the remedies proposed by Orkla to obtain EU approval of the Sapa joint venture, which is owned equally by Hydro and Orkla.
HE Tubing Netherlands B.V. is a leading European supplier of micro multi-port extrusions (MPEs), which are used by the automotive and HVAC&R (heating, ventilation, air conditioning and refrigeration) industries for high-performance heat exchangers. The agreement also includes related machinery and equipment in Sapa’s North American Application Center in Louisville, Kentucky.
Standard Investment is an independent Dutch investment firm focused on medium-sized industrial companies. It has extensive experience of investing in and managing European industrial companies, including automotive suppliers, and currently Standard Investment owns a total of nine companies with more than EUR 250 million in sales.
The sale agreement, signed on December 20, 2013, has been formally approved by the European Commission. The transaction was completed on February 20.
The divestment of the Harderwijk-based operation (HE Tubing Netherlands B.V.) was one of the remedies proposed by Orkla to obtain EU approval of the Sapa joint venture, which is owned equally by Hydro and Orkla.
HE Tubing Netherlands B.V. is a leading European supplier of micro multi-port extrusions (MPEs), which are used by the automotive and HVAC&R (heating, ventilation, air conditioning and refrigeration) industries for high-performance heat exchangers. The agreement also includes related machinery and equipment in Sapa’s North American Application Center in Louisville, Kentucky.
Standard Investment is an independent Dutch investment firm focused on medium-sized industrial companies. It has extensive experience of investing in and managing European industrial companies, including automotive suppliers, and currently Standard Investment owns a total of nine companies with more than EUR 250 million in sales.
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