York Capital completes Klesch Aluminium Delfzijl acquisition
The US based global institutional investment management firm York Capital has completed the acquisition of Delfzijl aluminium smelter. Executives from the smelter, which started as Aldel and was later renamed as Klesch Aluminium, met York management to seal the agreement over the re-start of the company this week, reports confirmed.
The Delfzijl aluminium smelter in Farmsum, the Netherlands, started its journey as Aldel in 1966. The company engages in aluminium smelting. It offers rolling ingots and aluminium extrusion billets to the rolling mills and extrusion companies.
Klesch’s products are used for manufacturing of cars, aircrafts, trains, ships, window frames, and aluminium profiles.
Klesch was declared bankrupt in August-end this year; but then the official receiver had expressed hope that there was a fair chance of re-starting the smelter. The company will get back to be known as Aldel with the payroll expanded to about 250 at the end of 2018, compared to 175 at present. The transaction is awaiting approval from the Dutch consumer and markets authority ACM, reports said.
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