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.