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New owner to grow Aluminum Shapes

Keywords: Tags  Global Aluminum (USA), Aluminum Shapes, Signature Aluminum Canada, Ted Riddle, extrusion press, Johnson Shao, acquisition, Samuel Frizell

NEW YORK — Global Aluminum (USA) Inc.’s acquisition of Aluminum Shapes LLC and Signature Aluminum Canada Inc. will give the operations access to increased capital and liquidity for long-term investment, a company executive told AMM.

Newly formed Global Aluminum, a privately held company based in Walnut, Calif., originally intended to build its own casting operation but decided instead to buy Delair, N.J.-based Aluminum Shapes and Pickering, Ontario-based Signature Aluminum, said Ted Riddle, chief executive officer of the two acquired companies.

"Instead of building, they’re using their platform as this company," said Riddle, who will remain chief executive officer of the new company. "They’re getting a company that has everything they need to be successful but without the capital. We expect that Global will significantly invest into the business both liquidity and capital."

"Our acquisition ... marks a significant first step in building a leading manufacturer of aluminum billet and custom aluminum extrusions to service the North American market," Global Aluminum chief executive officer Johnson Shao said in a statement.

Global Aluminum’s investment in the two operations over the coming years will be determined by a study slated for completion in February, but it said it plans to invest in new extrusion presses and billet casting equipment for high-volume production.

Aluminum Shapes’ casting house likely will be modernized as well, Riddle said. "The plan is to significantly grow the business. (There is) no plan to reduce."

The acquisition comes as the construction industry appears to be picking up. "The building infrastructure market has pent-up demand that will get better over the coming years," Riddle said.

Global Aluminum declined to disclose the cost of the acquisition.

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