In November 2022, Greek producers of aluminium profiles announced a strategic partnership. On December 27, 2022, the documents on the acquisition of COSMOS ALUMINIUM by ETEM signed.
The activities of the companies complement each other. So, according to ETEM, the new company will become the largest manufacturer of aluminium profiles in the region.
ETEM produces architectural aluminium systems. COSMOS ALUMINIUM specializes in the production of industrial profiles. After combining technological bases of companies, the extrusion capacity of the new company will reach 70,000 tons per year.
The completion of the merger is subject to the approval of the shareholders' meeting and the approval of the relevant authorities. This is expected to take place during the first quarter of 2023. No later than March 15, 2023.