Kaiser Aluminum has agreed to purchase all of the assets of Alexco, a manufacturer of hard alloy extrusions for the aerospace industry. The deal, which will be funded by Kaiser’s cash reserves, is expected to close in December, 2010 subject to third party consents.
"Alexco is a well-established supplier of aerospace extrusions which will position Kaiser Aluminum in a significant market segment that provides a natural complement to our current offering of sheet, plate, cold finish and drawn tube products for aerospace applications,” says Jack A Hockema, president, CEO and chairman of Kaiser Aluminum. “The facility will continue to be operated by its strong and experienced management team that has built a solid track record for steady, profitable growth over the past decade… With a solid market presence and a strong balance sheet, we also look forward to capturing increased potential as the business is integrated into Kaiser Aluminum.”