Hydro Acquires Sapa
Norsk Hydro has agreed with Orkla to acquire its 50% interest in Sapa for $3.24 billion. The deal gives Hydro full ownership in the global leader in extruded aluminum solutions. After Hydro and Orkla combined their aluminum extrusion assets in 2013, the two companies consistently supported the Sapa joint venture. Following the transaction, Hydro will become a global, integrated aluminum company with more than 35,000 employees and activities in around 40 countries. Hydro’s rolled-products business has a strong market presence throughout product segments in Europe. Sapa has strong market shares in North America and Europe and is also a global leader in precision tubing.