July 19, 2017

Norsk Hydro Acquires 100 Percent of Sapa

Norsk Hydro will acquire the remaining 50 percent interest in Sapa from Orkla for $3.3. The acquisition gives the Norwegian company full ownership of the extruded aluminum producer, and expands Hydro’s position in the global aluminum industry.

"Hydro is now confirming its position as the world's leading integrated aluminum company and the transaction reinforces our strategic direction with a solid asset base, unique competencies and capabilities from mining to end-user products," says Svein Richard Brandtzæg, president and CEO in Hydro. "Sapa will enable us to assume global leadership, establish a platform for growth, and provide responsible operations and sustainable solutions for the future low-carbon economy."

The combination will make Hydro the only global company in the aluminum industry that is fully integrated across the value chain and markets, the company claims. Hydro will have strength in technology, R&D, innovation and product development.

After Hydro and Orkla combined their aluminum extrusion assets in 2013, the two companies have consistently supported the Sapa joint venture's progress towards higher performance and value creation through streamlining and improving its global operations, Hydro executives say. Sapa is the global extrusion leader, with strong market shares in North America and Europe, and is the global leader in precision tubing.

"Sapa has successfully restructured its business and lifted profitability and is now well-positioned to continue its journey as part of Hydro, aiming for even higher value creation through targeting high-tech, high-competence value-add market segments," Brandtzæg says.


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Sunday, October 22, 2017