German aluminum producer Oetinger Aluminium has been sold to the Czech Republic-based Metal Trade Comax Group for an undisclosed sum, Oetinger said on Tuesday.
Oetinger had said in July 2017 its owner, the private equity investor Special Situations Venture Partners III, was seeking a buyer for the company.
Oetinger produces about 190,000 tonnes of recycled aluminum casting alloy annually from two plants in Weissenhorn and Neu-Ulm in southern Germany. Its customers are mainly in the automotive industry.
Metal Trade Comax is based in Velvary near Prague and produces about 200,000 tonnes of steel and aluminum products annually. It also has an aluminum recycling business producing about 30,000 tonnes annually which will be merged with Oetinger.