Grupo Vasconia informed that it will operate, through its subsidiary Alucal, the largest aluminum rolling mill in Latin America.
Headquartered in Cuautitlán, Mexico, Grupo Vasconia and its subsidiaries are dedicated to the manufacture and sale of flat aluminum, plate, sheet and foil, and to the manufacture and/or marketing of semi-durable consumer products for the home, especially for the table and kitchen.
Alucal will start up the largest aluminum rolling mill installed in Latin America, in Veracruz, in the Bruno Pagliai Industrial Park.
Thus, the Vasconia Group will complement its product portfolio in its industrial products division, which will allow it to participate in more sophisticated market sectors such as the automotive industry.
A short time ago, on February 19, 2020, a share purchase agreement was entered into between Almexa as the acquirer and the Italian companies L.A.G. Laminati Aluminio Gallarate S.P.A. and Al.Met Invest, S.A. as sellers, through which Almexa acquired the remaining 48.5% of Alucal to total 99.99% of the shares representing its Capital Stock.
With this, it acquired effective control of the company, that is, the physical, administrative and legal control of Alucal.
Grupo Vasconia has the following subsidiaries:
Company dedicated to the manufacture and sale of flat aluminum in different presentations, in addition to supplying the company and Vasconia Brands with aluminum discs and aluminum foil which are used by them as raw materials (Industrial Products Division).
It is dedicated to the production and marketing of pans, kitchenware and household items, especially for the table and kitchen (Cosumo Products Division).
Productive Development, Industrias Ekco, Metal Servicio, and Industrias Almexa Aluminio
Service provider companies that provide administrative personnel and productive force to the Company, Vasconia Brands and Almexa.
Company incorporated in the United States of America, whose main activity is the commercialization of articles of aluminum and vitrified steel for the table and kitchen in that country, which are mainly acquired from the Company and Vasconia Brands.
In 2014, the company subscribed shares through its industrial products division (Almexa), for a capital increase in Alucal, representing 50% of the latter’s share capital.
In 2016 the Company acquired an additional 1.5% stake in Alucal through its subsidiary Almexa.
On February 19, 2020 and after an international arbitration process between Almexa and its former Italian partners in Alucal; L.A.G. Laminati Aluminio Gallarate S.P.A. and Al.Met Invest, S.A .; Almexa acquired 48.5% of the shares representing Alucal’s capital stock and took full control of said company.