Aluminium giant Zhongwang buys Germany’s Alunna as springboard into Europe
Alunna boasts a heavyweight list of clients including Airbus, Boeing, Bombardier, Mercedes-Benz and BMW
China Zhongwang Holdings, the world’s second largest aluminium extruder, is to buy a controlling 99.72 per cent stake in Germany’s Aluminiumwerk Unna, in its first international acquisition.
The purchase is being made through a wholly-owned subsidiary of Zhongwang, Zhongwang Aluminium Deutschland, and will strengthen the Chinese company’s foothold in the international aviation sector and its further expand into Europe, officials said.
Aluminiumwerk Unna, better known in the industry as Alunna, is a well-established aluminium extrusion maker based in German town of Unna, that provides high-end extrusion products, mainly seamless tubes.
It boasts a heavyweight list of clients including Airbus, Boeing, Bombardier, Mercedes-Benz and BMW.
With Alunna’s product quality credentials and experience in customer development, the acquisition will expedite the Group’s business expansion into, among others, aviation and automobile industries
“The transaction will substantially enhance China Zhongwang’s production capability in seamless extruded aluminium tubes for further optimising our product mix,” said Lu Changqing, Zhongwang’s president and executive director.