February 4 (SeeNews) - Austria-based Hammerer Aluminium Industries (HAI) said its takeover of the aluminium extrusion plant in Romania's western county of Arad from Norway's Hydro has taken effect.
"After the signing in September the acquisition by Hammerer Aluminium Industries of the Hydro extrusion plant in Romania becomes effective as of February, 2020. With this acquisition, HAI is systematically expanding its capacity and taking another step forward in the strategic development of all three company divisions: construction, industry and transport," HAI said in a statement on Monday.
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The factory, located in Chisineu-Cris, Arad county, employs 200 and has two extrusion presses with a production capacity of 22,000 tonnes per year.
HAI extrusion has now 10 extrusion presses with an annual capacity of 100,000 tonnes per year, which together with an annual casting capacity of 200,000 tonnes, is making HAI one of the leading companies in the European aluminium industry.
The transaction, whose price was not disclosed, was announced in September 2019.
Hydro said at the time that the decision to sell the plant in Romania was part of the overall review in its Extruded Solutions business aiming to optimize and streamline the portfolio.
Hydro, which operates under the legal name of Norsk Hydro ASA, is a fully integrated aluminium company with 35,000 employees in 40 countries on all continents. It was founded in 1905.
Founded in 2007, Hammerer Aluminium Industries GmbH supplies aluminium and aluminium-related products. It already owns an aluminium extrusion plant in Santana, western Romania.