Oct. 11, 2017

Hydro Completes Sapa Acquisition

Norway’s Norsk Hydro has completed the acquisition of Orkla’s 50 percent share of aluminum extrusion producer Sapa in a deal estimated at $3.3 billion. The two Norwegian companies had been operating Sapa as a 50-50 joint venture since its purchase in 2013.

Hydro officials say the full ownership of Sapa makes the company “a leading force in the global aluminum industry. The combination makes Hydro the only global company in the industry that is fully integrated across the value chain and markets, and gives Hydro unparalleled strength in technology, R&D, innovation and product development, the company claims. The acquisition also gives Hydro “unmatched product and service offering to the benefit of more than 30,000 customers throughout the world.”

"This symbolizes the start of our exciting journey as the leading force within the global aluminum industry, fully integrated from bauxite to end-user products and with the best-possible platform for further growth and optionality, innovation and product development, and sustainability and responsibility," says President and CEO Svein Richard Brandtzæg.

Sapa will become a new business area in Hydro, Extruded Solutions, and will be headed by Egil Hogna. As Hydro's new Extruded Solutions business area, it will continue to operate with the business units Extrusion Europe, Extrusion North America, Precision Tubing and Building Systems, and has 22,400 employees and presence in around 40 countries.


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Tuesday, November 21, 2017