TK Aluminum Responds to Press Speculation
Teksid aluminum
TK Aluminum Responds to Press Speculation
CARMAGNOLA, Italy, October 9 /PRNewswire/ --
TK Aluminum Ltd. notes this morning's press speculation in Italy with regard to a possible
disposal of certain assets. TK Aluminum Ltd. announced today that it is exploring various
asset sales and is in discussions with potential buyers. The Company has not entered into
any definitive arrangements in respect of any potential transactions, and there can be no
assurance that any transaction would be concluded at all, or of the terms on which any
such transaction may be concluded. Furthermore, completion of any such transaction, if
entered into, likely would be subject to satisfaction of a number of conditions.
About Teksid Aluminum
Teksid Aluminum is a leading independent manufacturer of aluminum engine castings for
the automotive industry. Our principal products include cylinder heads, engine blocks,
transmission housings and suspension components. We operate 15 manufacturing facilities
in Europe, North America, South America and Asia. Information about Teksid Aluminum is
available on our website at www.teksidaluminum.com.
Until September 2002, Teksid Aluminum was a division of Teksid S.p.A., which was owned
by Fiat. Through a series of transactions completed between September 30, 2002 and
November 22, 2002, Teksid S.p.A. sold its aluminum foundry business to a consortium of
investment funds led by equity investors that include affiliates of each Questor
Management Company, LLC, JPMorgan Partners, Private Equity Partners SGR SpA and AIG
Global Investment Corp. As a result of the sale, Teksid Aluminum is owned by its equity
investors through TK Aluminum Ltd., a Bermuda holding company.
For further information please call
Massimiliano Chiara,
Finance Director,
+39-011-979-4889