7/14/17
by News Department on 07/14/17SAPA Sold...
One of Schuylkill County’s largest employers has been sold.
According to the Republican Herald, Sapa, which employs about 1,100 people, was sold to a Norwegian aluminum firm this week, but an executive of the purchasing company said there will be no immediate changes and no layoffs are expected.
Norsk Hydro, which is already a partial owner, agreed to buy the 50 percent of the extrusion company, located in Cressona that it did not already own.
Completion of the transaction is subject to approval from relevant competition authorities and is expected in the second half of 2017 with an estimated value of $3.24 billion.
