Alcan has sold its German automotive casting activity to AluCast, a company controlled by Parter Capital, a private equity company based in Frankfurt, Germany.
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Alcan BDW manufactures aluminium die-casting structural and non-structural parts for the automotive industry and is based in Markt-Schwaben, Germany.
Financial terms were not disclosed.
“It has been more than a year since we began reviewing all options for BDW as its activity is no longer consistent with our current engineered products portfolio, and I am glad that we have secured a future for this activity,” said Michel Jacques, president and chief executive officer, Alcan Engineered Products.
“Parter Capital has an in-depth understanding of the automotive supply industry and is well positioned to offer Alcan BDW new opportunities.”
Alcan BDW employs approximately 330 people and recorded a 2005 turnover of EUR50m.
Alcan retains its majority participation in the Slovenian automotive casting joint venture Alcan Tomos.
