Cosmos Aluminium

ETEM S.A. has been absorbed by COSMOS ALUMINIUM S.A., creating a company with over 70,000 tons of aluminium extrusion capacity and projected annual turnover of over €300 million. ELVALHALCOR S.A. received a 15% stake in COSMOS ALUMINIUM as part of the deal.

The Bulgarian regulator cleared the merger between Etem and Cosmos Aluminium.

Cosmos Aluminium, a Greek firm, has proposed to acquire Etem Commercial and Industrial Light Metals, a subsidiary of Elvalhalcor. The Bulgarian Competition Authority is examining the deal, which is expected to impact the aluminium extrusions market.

ElvalHalcor, a member of the Viohalco group and sole shareholder of Etem, will join Cosmos Aluminium with a 15% stake, while current Cosmos shareholders hold 85%. The transaction involves the absorption of Etem by Cosmos Aluminium and is contingent on regulatory approval.

ETEM, a Greek producer of architectural aluminium systems, acquired COSMOS ALUMINIUM, a producer of industrial profiles. The combined extrusion capacity will reach 70,000 tons per year, making it the largest aluminium profile manufacturer in the region.

Cosmos Aluminium signed final documents on December 27, 2022 to absorb ETEM, with ELVALHALCOR (owner of ETEM) receiving a 15% minority stake in Cosmos Aluminium. The merged entity is expected to have over €300 million in revenue and over 70,000 tonnes of production capacity.

ETEM, 80% owned by ELVALHALCOR, and COSMOS ALUMINIUM signed an addendum to their strategic cooperation agreement, continuing negotiations for the merger by absorption of ETEM by COSMOS ALUMINIUM.

ETEM, an 80% subsidiary of ElvalHalcor, and Cosmos Aluminium signed a strategic cooperation agreement for the absorption merger of ETEM by Cosmos Aluminium, with ETEM shareholders receiving a minority stake in Cosmos Aluminium.