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Granges AB (GRANG.ST)

GRANG.ST on Stockholm Stock Exchange

84.75SEK
12:23pm GMT
Change (% chg)

1.25kr (+1.50%)
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83.50kr
Open
83.25kr
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85.25kr
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83.25kr
Volume
55,944
Avg. Vol
216,601
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104.50kr
52-wk Low
77.00kr

Latest Key Developments (Source: Significant Developments)

Granges Q3 oper. profit at SEK ‍​227 mln, below expectations
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - GRANGES AB :Q3 REVENUES SEK ‍2.73​ BILLION (REUTERS POLL: SEK 2.81 BILLION).Q3 OPERATING PROFIT SEK ‍​227 MILLION (REUTERS POLL: SEK 234 MILLION).EXPECTS A SOMEWHAT LOWER GROWTH RATE THAN THE MARKET IN THE FOURTH QUARTER‍​.US OPERATIONS GRÄNGES ACQUIRED IN 2016 IS EXPECTED TO CONTINUE TO GROW IN THE FOURTH QUARTER.GRANGES AB - IMPACT OF CHANGES IN FOREIGN EXCHANGE RATES ON OPERATING PROFIT IS EXPECTED TO BE NEGATIVE IN Q4 COMPARED TO LAST YEAR."WHEN LOOKING INTO 2018, WE FORESEE A POSITIVE DEVELOPMENT IN ALL OUR REGIONS"‍​.  Full Article

Granges to report of lower tax rate in China in Q3
Wednesday, 28 Sep 2016 

Granges AB : Will report a positive tax effect of approximately 139 million Swedish crowns ($16 million)in Q3 of 2016 . Has been approved to pay 15 pct income tax in China instead of 25 pct over a three-year period . Positive tax effect will impact profit for period with same amount, but has no effect on cash flow .Will report positive tax effect as result of Gränges been classified as high technology enterprise in China for period 2013-2015.  Full Article

Granges: Approval of US acquisition postponed
Friday, 29 Jul 2016 

Granges AB : Approval of acquisition of Noranda Aluminum Holding Corporation's downstream aluminium rolling business in US is postponed . US Bankruptcy Court hearing has been adjourned to Aug. 4 and decision is expected in beginning of August at earliest .Closing is expected during Q3.  Full Article

BRIEF-Granges Q2 operating profit SEK 154 million
Thursday, 21 Jul 2016 

Corrects headline to remove reference to analysts expectations..Granges AB : Q2 sales volume 46.5 ktonnes versus 43.4 ktonnes year ago . Q2 net sales 1.44 billion Swedish crowns ($167.8 million) (Reuters poll 1.39 billion crowns) . Q2 operating profit 154 million crowns (Reuters poll 157 million crowns) . Sales volume increased by 7.0 pct driven by recovery in Asia and continued strong development in Europe and Americas . As for current business, expects growth rate to be better than market in H2 2016, however somewhat lower than in Q2 . Sees sales volume in Asia to grow in line with market during H2 and better growth than market in Europe .In Americas sees sales for current business within heat exchanger materials to continue to grow at significantly higher rate than market.  Full Article

Gränges wins auction in process to acquire aluminium business in the US
Friday, 8 Jul 2016 

Granges AB : Has emerged as winner in court supervised auction to acquire Noranda Aluminum Holding Corporation's downstream aluminium rolling business in United States . Transaction is anticipated to be accretive to Gränges earnings per share in 2016. . Closing is expected during Q3 of 2016. . Final bid values business and related assets to $324.2 million on a cash and debt free basis (enterprise value) .Should Gränges receive final approval as buyer from US bankruptcy court, an announcement is anticipated in mid-July, 2016.  Full Article

Gränges approved stalking horse bidder in process to acquire aluminium business in the US
Thursday, 23 Jun 2016 

Granges AB : Gränges AB has been approved by the US Bankruptcy Court as the "stalking horse" bidder to acquire Noranda Aluminum Corporation's downstream aluminium rolling business in the United States . The agreement between Gränges and Noranda was announced on June 14, 2016 . An auction is currently scheduled for Thursday, July 7, 2016, with bids due on June 29, 2016 .Closing is expected during Q3 of 2016.  Full Article

Granges enters process to acquire aluminium business in United States
Tuesday, 14 Jun 2016 

Granges AB : Enters process to acquire aluminium business in the United States . Bid values business and related assets at about $300 million on a cash and debt free basis . Transaction is expected to be carried out through court-supervised process under section 363 of United States bankruptcy code . Gränges has secured committed bank financing for potential transaction . Acquisition would be expected to close during Q3 2016 and is anticipated to be accretive to earnings per share in 2016 .Should Granges win auction and receive final approval as buyer from United States bankruptcy court, an announcement is anticipated in mid-July, 2016.  Full Article

Orkla sells 11.9 mln shares in Granges at SEK 69/shr
Friday, 18 Mar 2016 

Orkla ASA:Orkla Industriinvesteringar AB, a wholly owned subsidiary to Orkla ASA, has sold 11,942,378 shares in Granges AB through an accelerated bookbuilding to Swedish and international investors at a price of 69 Swedish crowns per share.Following the placing, Orkla Industriinvesteringar AB, does not own any shares in Granges.Carnegie Investment Bank AB and Skandinaviska Enskilda Banken AB have acted as joint bookrunners in connection with this placing.  Full Article

Lannebo Fonder sells 3.8 mln Granges shares
Thursday, 10 Mar 2016 

Finansinspektionen:Lannebo Fonder AB sells its holding in Granges AB of 3.8 million shares.  Full Article

Granges proposes SEK 2.00/share as dividend for 2015
Thursday, 4 Feb 2016 

Granges AB:‍Proposes a dividend of 2.00 Swedish crowns per share for 2015.Paid dividend of 1.50 crowns per share for 2014.  Full Article

BRIEF-Granges and Mitsubishi Aluminum to form JV in North America

* Granges and Mitsubishi Aluminum to form a joint venture in North America