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Ambienta buys aluminium manufacturer Phoenix International

Metal News - Published on Thu, 23 May 2019

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Penews com reported that Ambienta has agreed to acquire aluminium extrusion dies manufacturer Phoenix International as the sustainability focused investor bets on the metal's high recyclability. Financial details of the deal were not disclosed. Milan based firm said in an announcement that the aluminium market is poised to grow as the material can be used in a number of industries thanks to the metal’s lightweight properties and durability.

Founded in 1972 and based in Verdello, Italy, Phoenix designs and manufactures aluminium extrusion dies used in the construction, transportation and industrial markets. Phoenix, which has 250 customers, employs over 700 people in Europe, the US and the Middle East. The company generated revenues of EUR 91 million in 2018.

According to Mr Roberto Rusticelli, chief executive at the company, Phoenix plans to expand in the US and Middle East. Over the last years, the company acquired businesses in Germany and the US and developed a greenfield plant in the Middle East.

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Posted By : Rabi Wangkhem on Thu, 23 May 2019
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