Chinese aluminum materials processor Dingsheng New Materials will acquire Italian company Slim Aluminum for EUR56.3 million (USD61.2 million) to expand its battery aluminum foil business in Europe. The deal includes Slim Aluminum's production facilities in Italy and Germany, with a combined output capacity of approximately 135,000 tons of aluminum materials.
Once the acquisition is complete, Dingsheng will have a comprehensive presence in the European aluminum processing market, covering hot and cold rolling as well as foil rolling. The acquisition will boost Dingsheng's market share in Europe, ensure a stable supply of raw materials for its Italian aluminum foil plant, and enhance its overall business with Slim Aluminum's advanced production facilities, premium customer resources, and high gross margin.
Dingsheng has been actively shifting its focus to battery aluminum foil production and has secured long-term supply agreements with global battery giants. The company's shares closed up 1.3 percent at CNY19.19 (USD2.65) per share in Shanghai, though the stock has declined by 16 percent this year.
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