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SUPERIOR PLUS INC. AGREES TO BUY JW ALUMINUM COMPANY FROM WELLSPRING CAPITAL MANAGEMENT FOR $350 MILLION
09-29-2005
September 29, 2005 — Superior Plus Income Fund announced today they have entered into a definitive agreement with Wellspring Capital Management LLC to purchase JW Aluminum Company for $350 Million.
President and CEO of JWA, Don Kassing said, "We are very pleased with the opportunity to become part of the Superior Plus family. Their strong financial position and growth strategy will work well with our desire to aggressively pursue opportunities to expand our presence in the specialty flat-rolled aluminum sheet and foil industry."
According to Geoff Mackey, President and CEO of Superior Plus, "JWA meets all of the Fund's acquisition criteria and we are excited to have another strong platform to create long-term value and growth." One of the key acquisition criteria for Superior Plus is JWA's "strong operating management who will continue to manage the business going forward". Said Mr. Mackey "With visible expansion opportunities at existing facilities, opportunities for consolidation, and the potential to expand into additional specialty markets, the business is well positioned for future growth and continued success."
JW Aluminum is an independent manufacturer of specialty flat-rolled aluminum products including "fin stock" used by the heating and cooling industry, light gauge converter foil for the flexible packaging industry, and heavier gauge sheet for the building and construction markets, as well as other foil and sheet products. Over its 25 years of operation, JWA has grown from a startup capacity of 40 million pounds to an expected 372 million pounds of capacity by the end of the third quarter, 2005.
JW Aluminum employs 772 associates at its three facilities in: Russellville, AR; St. Louis, MO; and Mt. Holly, SC, and is headquartered in Mt. Holly, SC.
Superior Plus is Canada's leading diversified business trust. It was established in 1996 and currently has four businesses with a market value of $2.5 billion. For more information about Superior Plus, visit their website at: www.superiorplus.com.
For further information about JW Aluminum Company and Superior Plus contact:
| JW Aluminum Company: |
Superior Plus: |
| Sanford E. Peek, JR |
Theresa R. Reisch |
| Director of Marketing |
Vice-President, Investor Relations & Corporate Secretary |
| Phone; (843) 764-8272 |
Phone: (403) 218-2953 |
| Fax: (843) 820-2571 |
Fax: (403) 218-2973 |
| Toll Free: (800)568-1100 (ext. 8272) |
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| ns_sammypeek@jwaluminum.com_ |
ns_treisch@superiorplus.com_ |
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JW Aluminum Company Announces Executive Changes
12-03-2009
Mount Holly, SC (December 3, 2009)—JW Aluminum Company, a leading manufacturer of flat-rolled aluminum products, today announced the retirement of Don Kassing, President and Chief Executive Officer. Mr. Kassing has served as President and CEO since 2003 and has led the transformational growth of the Company over the last six years.
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