Posted in | News | Non-Ferrous Alloys and Metals | Precious Metal | Aluminum / Aluminium | Building and Construction

Quanex Corp to Sell Nichols Aluminum to Crestwood Capital

Oct 5 2004

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Quanex Corporation, an industry-leading manufacturer of value-added engineered materials and components serving the vehicular products and building products markets, announced today that it has sold its Nichols Aluminum - Golden operation to an affiliate of Crestwood Capital Management Inc., Davenport, Iowa, for $22 million. The Golden facility, with about 200 employees, is located in Fort Lupton, Colorado.

"The sale of Golden is representative of our focus to invest and grow our core businesses," said Raymond A. Jean, president and chief executive officer of Quanex Corporation. "Although it is a profitable business, it does not fit our strategic direction" Jean said.

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