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The restructuring of the German company PWG, in which ProfilGruppen had a shareholding of 18 percent, is now completed.
New owner of PWG is the Austrian company Neuman Aluminium, a company within the CAG Holding Group.
In connection with the restructuring of PWG the shares owned by ProfilGruppen are transferred to the new owner. ProfilGruppen has also signed a three year contract for deliveries to PWG.
“Neuman Aluminium will be an excellent owner of PWG. Neuman has a strong presence in the automotive industry and we know the company from their ownership of one of our other important customers, Norwegian Raufoss Technology AS. The contract for deliveries that we signed with PWG secures our position within an important segment of the automotive industry”, says Nils Arthur, President and CEO, ProfilGruppen AB.
ProfilGruppen’s agreement with Neuman and the creditors of PWG will also result in recovery of a portion of the receivables written down in 2006.
New owner of Realpro signs agreement with ProfilGruppen
During 2006 PWG acquired the Dutch company Realpro, in which ProfilGruppen had a 40 percent share.
In connection with the restructuring of PWG the Realpro business has been taken over by the Dutch company Aluwa.
ProfilGruppen will, within the near future, also sign a new contract for deliveries to Aluwa, for its business with the Dutch company Inalfa Roof Systems; one of the three leading global manufacturers of sunroofs for the automotive industry.
The new contracts with PWG and Aluwa will secure future deliveries within an important customer segment of ProfilGruppen.
ProfilGruppen markets, develops and manufactures customised aluminium extrusions and components in aluminium. Headquarter and production is located in Åseda, Småland, Sweden. The Group has 470 employees and turnover for 2006 was 1 087 MSEK. ProfilGruppen AB was listed on the Stockholm Stock Exchange in 1997.