According to reports, Swedish aluminum producer Gränges has agreed to acquire Polish Aluminium Konin with 2.3 billion Swedish kronor.

Gränges will complete a growth plan initiated by Boryszew Group, which was aimed to increase the production capacity of Aluminium Konin to 140,000 tons.

Aluminium Konin is currently owned by Boryszew Group, with approximately 750 employees and headquartered in Konin, Poland. The transaction was expected to close in the second quarter of 2020.

It was estimated that the acquisition will expand Gränges's presence in Europe and increase its position in growth areas such as electric vehicle materials.