LONDON A joint venture between Norsk Hydro ASAs extruded products unit and Orkla ASA subsidiary Sapa Group was officially established Sept. 1.
The launch follows approval by Chinas Ministry of Commerce last month (amm.com, Aug. 19), which was the last external obstacle to the completion of the joint venture that was announced last October (amm.com, Oct. 15). The European Commission approved the deal in May (amm.com, May 13).
The joint venture, named Sapa AS, is headed by Svein Tore Holsether, who had been chief executive officer of Sapa under Orkla.
"The new joint venture has leading positions in Europe and North America, and strong footholds in emerging markets such as Brazil, China, India and Vietnam," Hydro said.
Sapa AS will include 16 former Sapa Extrusions North America locations as well as Hydro operations in Belton, S.C.; Kalamzoo, Mich.; Monett, Mo.; North Liberty, Ind.; Phoenix; Sidney, Ohio; and St. Augustine, Fla., the company said.
A version of this article was first published by AMM sister publication Metal Bulletin.