Capral Aluminium, an ASX-listed manufacturer of rolled and extruded aluminium products, has announced that it will have acquired OneSteel Aluminium for $19 million by September 30.
“Capral is acquiring the inventory and fixed assets of the business and all current OSA employees will be offered employment with Capral,” managing director Tony Dragicevich said in a statement.
Arrium’s OneSteel Aluminium serves markets including sheet metal fabrication, transport, marine and machinery. It sells both rolled and extruded aluminium, with about half of the latter product sold to them by Capral.
“There are substantial synergies available as a result of the Acquisition with the respective businesses having complementary channels to market and areas of expertise,” Dragicevich exmplained.
“Capral expects to realise synergies of between $2.5 million and $5.0 million p.a. over the next three years as a result of this Acquisition.”
Capral was established in 1936 and has operations across Australia, with eight operating presses, five major distribution facilities, five regional centres, 0 metropolitan trade centres and 800 employees.