Gränges has seen strong growth for its high-quality, sustainable electrification solutions in Asia. Now, Gränges extends its long-term strategic partnership with Shandong Innovation Group (SIG) to strengthen competitiveness and gain further market share. Through the new agreement, Gränges will take ownership of an efficient, low-cost casting and hot-rolling facility in the Shandong province and obtain access to scalable downstream capabilities.

The agreement further provides access to nearby supply of low-carbon recycled and primary aluminium. In return, SIG will obtain shares in Gränges? subsidiary in China representing 20% of the total registered capital after completion of the transaction.

The agreement is expected to be completed within approximately six months. Carnegie acted as financial adviser to Gränges in the extension of its long-term strategic partnership with SIG.