|
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
| 
