Sapa deal positions Hydro for future European business
Feb 19, 2013 | 01:48 PM
| Jethro Wookey
Tags
Norsk Hydro ASA,
Orkla ASA,
joint company,
Sapa,
aluminum extrusion,
European market,
emergingmarkets,
extruded aluminum tubes
welded aluminum tubes
LONDON — Norsk Hydro ASA’s tie-up with Norway’s Orkla ASA—which linked its extruded products business with the downstream operations of Orkla’s Sapa Group subsidiary—leaves the company in a strong position for when European markets recover, chief financial officer Jørgen Rostrup told AMM sister publication Metal Bulletin.
The deal, which is expected to close in the first half of this year, will see the formation of a new company named Sapa that will include Sapa’s aluminum profiles and building system units, as well as extruded and welded tubes.....
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