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Thursday, April 5, 2007

Pechiney Aluminium to buy Luxfer's UK extrusions unit

Pechiney Aluminium has agreed to purchase British Aluminium's specialty extrusions operations from Luxfer Groups Luxfer Holdings Plc unit. Terms were not disclosed.

The Paris-based Pechiney interests said that the extrusions unit is a $40-million-a-year business producing hard alloy extrusions for the transportation industries and general engineering applications.

Situated in Workington in northern England, the unit has a workforce of 280 producing about 10,000 tonnes of extrusions a year on three presses.

Luxfer, which sold the bulk of its British Aluminium holdings to Alcoa Inc. of Pittsburgh last year, said that completion of the transaction awaited clearance by regulatory authorities.