Hydro merges extruded aluminium business with Orkla, forms 50:50 owned unit
Transaction expected to complete in first half of 2013
Norsk Hydro has merged its extruded aluminium products business with Orkla, a Norwegian group which develops aluminium profile-based building systems and heat exchanger solutions, said a press release. The businesses will be integrated under a new company named after Orkla’s existing unit Sapa—50:50 owned by Hydro and Orkla. In addition to 50% stake, Orkla will receive NOK1.8bn (USD318m) from the new company to compensate for the difference in size of businesses.
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