STOCKHOLM, Sweden — Sapa AB signed a letter of intent to acquire one of China's largest extrusion companies, Kam Kiu.
Kam Kiu is located in Taishan in the Guangdong province.
"In 2007, Sapa joined forces with Alcoa to create the largest aluminum extrusion company in the world. By acquiring Kam Kiu, Sapa will get a strong foothold in China, the most expansive market in the world, and an excellent platform for serving the rest of the Asia region," said Ole Enger, CEO of Sapa.
The transaction is expected to close during the second quarter.