Norsk Hydro: Hydro and RTA closes Søral deal
(Thomson Reuters ONE) -
Aluminium company Hydro and Rio Tinto Alcan (RTA) have closed the deal for Hydro
to take over RTA's shares in the aluminium smelter Sør-Norge Aluminium AS
(Søral) in Norway.
Hydro and RTA announced the plans for Hydro to take over Søral in July.
Following approval from competition authorities in Norway and France, the
companies closed the deal on the afternoon of Friday October 31, with effect as
of November 1.
"We welcome the 230 employees at Husnes into the Hydro family. As a fully-owned
plant, we will now be able to contribute even stronger in strengthening
operations at the plant and to serve our customers with value added aluminium
products," says Hilde Merete Aasheim, Executive Vice President and head of
Primary Metal in Hydro.
With the deal completed, Søral's new plant name will be Hydro Husnes, and the
plant has become Hydro's fifth fully owned aluminium smelter in Norway.
"We take Husnes into our portfolio knowing that we can learn a lot from each
other, and I am looking forward to see what we will be able to achieve
together," says Aasheim.
Hydro Husnes is a primary aluminium plant situated at Husnes on the Norwegian
west coast, with an annual production capacity of about 180,000 tonnes of
primary aluminium. The plant, which has been operated as a stand-alone unit,
idled one of its two production lines in 2009, and is currently producing around
90,000 tonnes of primary aluminium per year.
Prior to the agreement, the plant was owned by Rio Tinto Alcan (50 percent), and
Hydro (49.9 percent). Hydro Husnes has 230 employees.
* Investor contact
Contact: Pål Kildemo
Cellular: +47 97096711
E-mail: Pål.Kildemo(at)hydro.com
* Press contact
Contact: Halvor Molland
Cellular +47 92979797
E-mail: Halvor.Molland(at)hydro.com
This announcement is distributed by GlobeNewswire on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norsk Hydro via GlobeNewswire
[HUG#1867798]
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2014 - 07:59 Uhr
Sprache: Deutsch
News-ID 348922
Anzahl Zeichen: 2574
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