BUCHAREST (Romania), September 10 (SeeNews) - Norwegian aluminium producer Hydro said on Tuesday it has signed an agreement with Austria-based Hammerer Aluminium Industries (HAI) for the sale of Hydro Extrusion, an extrusion plant located in Romania.
The decision to sell Hydro Extrusion is part of the overall review in Extruded Solutions aiming to optimize and streamline the portfolio. The transaction is expected to be completed in the last quarter of 2019.
Hydro Extrusion is part of the Extruded Solutions business area and has around 200 employees. It produces around 20,000 mt of extruded profiles per year, mainly for the construction industry.
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 is based in Norway and was founded in 1905.
Hammerer Aluminium Industries GmbH supplies aluminium and aluminium-related products. It owns an aluminiun extrusion factory in Santana, western Romania.