As communicated on 21 September the Thule Group, has agreed to divest its automotive related integrated roof rail business to Sapa. The agreement has now been closed and as of today, Friday 22 October 2010, Sapa is taking over Thule’s roof rail business including two productions plants, sales, design and engineering resources in Poland and the UK.
As stated in the earlier joint communication, Sapa is acquiring Thule’s whole roof rail business – including two productions plants, sales, design and engineering resources in Poland and the UK. The deal serves both the companies’ strategic directions well. Thule wishes to focus more on branded consumer related products and retail, and Sapa wants to strengthen its market position in the automotive sector by expanding the customer base, and adding valuable product design competence.
-”We are happy the deal is closed, and that we now can focus fully on the integration of the roof rail business with the rest of our operations. It will be an exciting journey to develop this business further together with our current and new costumers within the automotive industry”, says Arne Rengstedt, President Sapa Profiles Europe.
President and CEO of Thule Group, Magnus Welander says in a comment: “-With the Thule Group’s increased focus on branded products designed to make active life easier to enjoy for the consumer, the integrated roof rail business was no longer a core business for us. I am happy we have closed this deal with Sapa, as I am convinced they have the strategic focus and competence to take this business further.”
For further information please contact:
CEO Thule Group
Phone: +46-703-325 504
SVP Communications, Thule Group
Phone: +46-70-309 00 21
BA President Sapa Profiles Europe
Phone: +46 706-832 910
Vice President Sapa Automotive
Phone: +49 173 324 82 26
About Thule Group
Thule Group is a world leader in products and brands that make it easy for people to transport their equipment securely, safely and in style. Under the motto Active Life, Simplified, Thule Group offers products within four business areas: Carry Solutions (laptop and camera bags, backpacks etc), Vehicle Solutions (roof racks, bike racks, ski boxes, snow chains etc), Work Solutions (ladder racks, tool boxes etc) and Towing Solutions (towbars and trailers). The Thule Group has about 3,500 employees at more than 50 production facilities and sales offices worldwide. In 2009 sales amounted to SEK 5.8 billion.
Find out more at www.thule.com
About Sapa Group
Sapa is the largest aluminium profiles producer in the world. The Sapa Group develops, manufactures and markets value-added profiles, profile-based building systems and heat exchanger solutions in the light-weight material aluminium. Sapa is divided in the business areas Sapa Profiles, Sapa Building System and Sapa Heat Transfer and is represented in Europe, North America and Asia. The business concept is built on close cooperation with customers. Sapa is the leading company in its field of operation and have customers in the building, transport, engineering, telecom and home and office industry. In 2009 the Sapa Group had combined net sales of 25,100 MSEK and 13,100 employees. Sapa is part of Norwegian Orkla ASA. Further information can be found on the web site: www.sapagroup.com