The facility comprises 15 presses with a total capacity of 60kt and is one of the larger extrusion operations in the Yangtze River Delta region.
The facility is also equipped with casting, anodizing, horizontal powder coating, thermal break and fabrication capabilities. The transaction is subject to government approval, which the companies expect to receive in Q4 2011.
“Sapa has now established extrusion and fabrication capabilities in India, Vietnam and China. By using the experience and technical knowledge in Sapa, new solutions will be brought to these markets, benefiting,” sais Svein Tore Holsether, President and CEO of Sapa.
Haihong was established in 2007 and operations were started in 2009. Haihong’s main customer segments are in the solar and industrial markets, while also serving customers in the building and construction and other markets. The company employed 550 people and produced 20kt in 2010.
It is planning to re-locate one of its large presses from North America to the site.
Jarle Dragvik, Managing Director of Sapa Profiles China, has been appointed MD of the Haihong plant.