The agreement has now been closed and as of today, Friday 22 October 2010, Sapa is taking over Thule’s roof rail business including two productions plants, sales, design and engineering resources in Poland and the UK.
As stated in the earlier joint communication, Sapa is acquiring Thule’s whole roof rail business – including two productions plants, sales, design and engineering resources in Poland and the UK. The deal serves both the companies’ strategic directions well. Thule wishes to focus more on branded consumer related products and retail, and Sapa wants to strengthen its market position in the automotive sector by expanding the customer base, and adding valuable product design competence.
-”We are happy the deal is closed, and that we now can focus fully on the integration of the roof rail business with the rest of our operations. It will be an exciting journey to develop this business further together with our current and new costumers within the automotive industry”, says Arne Rengstedt, President Sapa Profiles Europe.
President and CEO of Thule Group, Magnus Welander says in a comment: “-With the Thule Group’s increased focus on branded products designed to make active life easier to enjoy for the consumer, the integrated roof rail business was no longer a core business for us. I am happy we have closed this deal with Sapa, as I am convinced they have the strategic focus and competence to take this business further.”