Norsk Hydro ASA, Oslo, Norway, has entered into an agreement to buy all shares of VAW Aluminum AG, a German aluminum company. VAW's Flexible Packaging division is considered to be non-core in the future activities of Hydro Aluminum and will be managed for value until market conditions allow for beneficial sale. After the acquisition, the combined activities will be named Hydro Aluminum and will be headquartered in Oslo, Norway. Jon-Harald Nilsen, executive vice president for Hydro Light Metals will be the CEO of the merged company, and the different sectors will have their subheadquarters in Germany, Norway, Switzerland and the United States.