Ole Enger, Executive Vice President of Orkla´s Speciality Materials business, will take over as President and CEO of Sapa on 15 February 2007. He will also be CEO of the merged Sapa-Alcoa company after it has been formally established.
Ole Enger will continue to be a member of Orkla´s Group Executive Board. Lennart Evrell, who is currently President and CEO of Sapa, will continue as Executive Vice President of Sapa. Orkla Group President and CEO Dag J. Opedal will take over as Chairman of the Board of Directors of Sapa and the merged Sapa-Alcoa company.
On 21 November 2006, Orkla and Alcoa announced that the parties plan to merge their aluminium profile operations. The new company will be a leading global player with estimated operating revenues of SEK 28 billion and approximately 12,000 employees. The Sapa Group as a whole will have operating revenues of SEK 34 billion and around 15,000 employees.
"The Sapa Group is at the threshold of an exciting development phase. We wish to make use of Ole Enger´s broad management expertise, his long experience from the aluminium business and, not least, his more than 15 years of cooperation and good relations with Alcoa. By combining the leadership of Ole Enger and Lennart Evrell, we create a strong management team," says Group President and CEO Dag J. Opedal.
Sapa, which is a wholly-owned company in the Orkla Group, develops, manufactures and markets value-added aluminium profiles, profile-based building systems and heat transfer strip.
The Sapa Group consists of the business areas, Profiles, Heat Transfer and Building System, and will include the majority share in the new merged Sapa-Alcoa aluminium profile company.
For further information please contact Ole Enger, Executive Vice President, Orkla, tel: +47 911 38 223, Gabriella Ekelund, Communications Manager (Sapa), tel: +46 709 53 08 53 or Ole Kristian Lunde, SVP Corporate Communications (Orkla), tel: +47 22 54 44 31.
Further information about Sapa can be found on our web site www.sapagroup.com
Sapa is an international industrial group, which develops, manufactures and markets value-added aluminium profiles, profile-based components and systems, and heat exchanger strip in aluminium. Sapa has a turnover of approximately 18 billion SEK, with 9,000 employees all over Europe and in USA and China. Sapa is one of Europe´s leading companies within its field and the customers are found in the transport, building, engineering and telecom industries. Sapa is part of Norwegian Orkla, listed on the Oslo Exchange.
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