Kaiser to Purchase Hard Alloy Extrusion Maker

Kaiser Aluminum Corp., Foothill Ranch, Calif. has agreed to buy Alexco LLC, a Chandler, Ariz., manufacturer of hard alloy extrusions for the aerospace industry, in a cash transaction valued at about $90 million. The deal is expected to close in December.

“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,” said Jack A. Hockema, Kaiser Aluminum chairman, president and CEO.

The facility will continue to be operated by Alexco’s strong and experienced management team, he added. “With a solid market presence and a strong balance sheet, we look forward to capturing increased potential as the business is integrated into Kaiser Aluminum."

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Thursday, July 28, 2016