The new company will be called Sapa BTG.
The Vietnam Japan Aluminium Co (Vijalco) established in 1996, was a joint venture between the Japanese companies Tachibana and Sojitz Corporation and the Vietnamese Ben Thanh Group.
The company is located in Ho Chi Min City and production covers both standard profiles to the building and construction segment and more specialised solutions for the furniture and automotive industries. The company has 150 employees.
Sapa will, together with its local partner the Ben Thanh Group, form Sapa BTG. The aim is to develop the company to become a main player in the Vietnamese market and support Sapa in its overall strategy of establishing a broader footprint in Asia.
The deal that was closed will be effective from December 1 2010. Sapa acquired 65% of the shares in Vijalco by purchasing the Japanese parties’ shares, and by a capital increase. Jarle Dragvik has been appointed general director of Sapa BTG.