- 3 November 2006 -
Alcan acquires manufacturer of urethane core materials

ALCAN, Montreal, Canada, has announced an agreement-in-principle to acquire the business and assets of Penske Composites LLC, a US manufacturer of urethane core materials. The transaction is expected to be completed in early December.

Penske, based in Mount Juliet, Tennessee, employs 36 people and had revenues of US$4.6 million in 2005. Its Xtreme products are used in the US marine and industrial markets in areas such as transoms and stringer systems.

The addition of Penske will expand Alcan Composites’ range of foam and balsa core materials.

"This acquisition would also give Alcan further entry into developing markets, currently served by other Alcan Composites product lines in the display and sandwich construction industries," says Alcan Composites’ president Georg Reif.

Alcan Composites; www.alcancomposites.com

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