EX-99.2
5
a5402947ex99-2.txt
EXHIBIT 99.2
Exhibit 99.2
Indalex Divests Equity Holding in Asia Aluminum Group,
Signs New Supply Agreement
LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--May 15, 2007--Indalex Holding
Corp. has signed an agreement with OK Spring Roll Limited Partnership,
an investment vehicle in association with ORIX Corporation, to divest
its approximately 25 percent equity holding in Asia Aluminum Group
Limited ("AAG"), a subsidiary of Asia Aluminum Holdings Limited. The
companies also signed a long-term supply agreement to maintain their
nine-year trading relationship. Indalex said it expects to use a
portion of the proceeds from the sale to strengthen its balance sheet
and to invest in growth projects.
"The equity position we took in AAG in 2001 has facilitated the
building of a strong extrusion supply relationship over the past six
years. That relationship has now evolved to the point where we can
separate our financial relationship from our supply relationship with
AAG. As a result, now is an opportune time for us to divest our equity
position while continuing to focus on maintaining and building our
customer/supplier relationship with AAG, achieving benefits for our
customers and shareholders and strengthening our balance sheet", said
Timothy R.J. Stubbs, President and Chief Executive Officer, Indalex
Holding Corp.
Indalex is one of AAG's largest customers. AAG supplies the
majority of Indalex's offshore production. Indalex will continue its
mutually beneficial supply relationship with AAG to offer North
American customers an offshore option in addition to domestic supply
of extruded aluminum components from Indalex manufacturing facilities
across the U.S. and Canada. Indalex will continue to operate its
business office in Nanhai, China and maintain its Indalex
International sales, customer service and logistics organization.
The equity interest in AAG was acquired by Novar plc, Indalex's
then parent company, in 2001. Indalex assumed the equity interest from
Novar in 2002. An affiliate of Sun Capital Partners, Inc. subsequently
acquired the stock of Indalex and its subsidiaries from Honeywell in
February of 2006.
About Indalex Holding Corp.
Indalex Holding Corp. ("Indalex"), with headquarters in
Lincolnshire, Illinois, is the largest independent producer of soft
alloy extrusion products and the second largest aluminum extruder in
North America. The company's aluminum extrusion products are widely
used throughout industrial, commercial, and residential applications
and are customized to meet specific end-user requirements.
Indalex consists of Indalex Inc. and Indalex Limited. The
company's North American network includes two cast houses, 14
extrusion facilities, 37 extrusion presses with circle sizes up to 12
in., a variety of fabrication and close tolerance capabilities, 9
electrostatic paint lines and three anodizing operations. For
additional information, please visit www.indalex.com.
About Asia Aluminum Holdings Limited
Asia Aluminum Holdings Limited is the world's premier aluminum
fabricator, dedicated to offering sophisticated extrusion, design,
engineering, surface-finish and fabrication expertise for the benefit
of customers in the infrastructure, home-building and improvement,
transportation and other industrial sectors. With a core capability of
350,000 metric tons of extrusion and the soon-to-be-commissioned
400,000 metric tons of rolled-products fabrication, Asia Aluminum is
Asia's largest aluminum processing company and will rank among the top
three fabricators in the world. For more information, please visit
www.asiaalum.com.
About ORIX Corporation
ORIX Corporation is an integrated financial services group based
in Tokyo, Japan, listed on the Tokyo Stock Exchange (TSE:8591) as well
as the New York Stock Exchange (NYSE:IX). For more information, please
visit: www.orix.co.jp/grp/index_e.htm.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm
focused on leveraged buyouts, equity, debt, and other investments in
market-leading companies that can benefit from its in-house operating
professionals and experience. Sun Capital affiliates have invested in
and managed more than 150 companies worldwide with combined sales in
excess of $35 billion since Sun Capital's inception in 1995. Sun
Capital has offices in Boca Raton, Los Angeles, New York, as well as
affiliates with offices in London, Tokyo and Shenzhen. For more
information, please visit: www.SunCapPart.com.
CONTACT: Indalex Holding Corp.
Michael Alger
Executive Vice President, Chief Financial Officer
847-810-3122
mike_alger@indalex.com

EX - 99 . 2 5 a5402947ex99 - 2 . txt EXHIBIT 99 . 2 Exhibit 99 . 2 Indalex Divests Equity Holding in Asia Aluminum Group , Signs New Supply Agreement LINCOLNSHIRE , Ill . -- ( BUSINESS WIRE ) -- May 15 , 2007 -- Indalex Holding Corp . has signed an agreement with OK Spring Roll Limited Partnership , an investment vehicle in association with ORIX Corporation , to divest its approximately 25 percent equity holding in Asia Aluminum Group Limited ( " AAG " ) , a subsidiary of Asia Aluminum Holdings Limited . The companies also signed a long - term supply agreement to maintain their nine - year trading relationship . Indalex said it expects to use a portion of the proceeds from the sale to strengthen its balance sheet and to invest in growth projects . " The equity position we took in AAG in 2001 has facilitated the building of a strong extrusion supply relationship over the past six years . That relationship has now evolved to the point where we can separate our financial relationship from our supply relationship with AAG . As a result , now is an opportune time for us to divest our equity position while continuing to focus on maintaining and building our customer / supplier relationship with AAG , achieving benefits for our customers and shareholders and strengthening our balance sheet " , said Timothy R.J. Stubbs , President and Chief Executive Officer , Indalex Holding Corp . Indalex is one of AAG 's largest customers . AAG supplies the majority of Indalex 's offshore production . Indalex will continue its mutually beneficial supply relationship with AAG to offer North American customers an offshore option in addition to domestic supply of extruded aluminum components from Indalex manufacturing facilities across the U . S . and Canada . Indalex will continue to operate its business office in Nanhai , China and maintain its Indalex International sales , customer service and logistics organization . The equity interest in AAG was acquired by Novar plc , Indalex 's then parent company , in 2001 . Indalex assumed the equity interest from Novar in 2002 . An affiliate of Sun Capital Partners , Inc . subsequently acquired the stock of Indalex and its subsidiaries from Honeywell in February of 2006 . About Indalex Holding Corp . Indalex Holding Corp . ( " Indalex " ) , with headquarters in Lincolnshire , Illinois , is the largest independent producer of soft alloy extrusion products and the second largest aluminum extruder in North America . The company 's aluminum extrusion products are widely used throughout industrial , commercial , and residential applications and are customized to meet specific end - user requirements . Indalex consists of Indalex Inc . and Indalex Limited . The company 's North American network includes two cast houses , 14 extrusion facilities , 37 extrusion presses with circle sizes up to 12 in . , a variety of fabrication and close tolerance capabilities , 9 electrostatic paint lines and three anodizing operations . For additional information , please visit www.indalex.com . About Asia Aluminum Holdings Limited Asia Aluminum Holdings Limited is the world 's premier aluminum fabricator , dedicated to offering sophisticated extrusion , design , engineering , surface - finish and fabrication expertise for the benefit of customers in the infrastructure , home - building and improvement , transportation and other industrial sectors . With a core capability of 350,000 metric tons of extrusion and the soon - to - be - commissioned 400,000 metric tons of rolled - products fabrication , Asia Aluminum is Asia 's largest aluminum processing company and will rank among the top three fabricators in the world . For more information , please visit www.asiaalum.com . About ORIX Corporation ORIX Corporation is an integrated financial services group based in Tokyo , Japan , listed on the Tokyo Stock Exchange ( TSE : 8591 ) as well as the New York Stock Exchange ( NYSE : IX ) . For more information , please visit : www.orix.co.jp/grp/index_e.htm . About Sun Capital Partners , Inc . Sun Capital Partners , Inc . is a leading private investment firm focused on leveraged buyouts , equity , debt , and other investments in market - leading companies that can benefit from its in - house operating professionals and experience . Sun Capital affiliates have invested in and managed more than 150 companies worldwide with combined sales in excess of $ 35 billion since Sun Capital 's inception in 1995 . Sun Capital has offices in Boca Raton , Los Angeles , New York , as well as affiliates with offices in London , Tokyo and Shenzhen . For more information , please visit : www.SunCapPart.com . CONTACT : Indalex Holding Corp . Michael Alger Executive Vice President , Chief Financial Officer 847 - 810 - 3122 mike_alger@indalex.com