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Norsk Hydro takes full ownership of Sapa

Monday, July 10, 2017   (0 Comments)
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Norwegian metals firm Norsk Hydro will take full ownership of aluminum products maker Sapa by buying a 50 percent stake from conglomerate Orkla, the companies said on Monday, July 10.

"Sapa will enable us to assume global leadership, establish a platform for growth, and provide responsible operations and sustainable solutions for the future low-carbon economy," Hydro Chief Executive Svein Richard Brandtzaeg said.

While Hydro itself produces primary aluminum from scratch, Sapa cuts, presses and shapes the metal, making it a key supplier to aircraft makers, automotive firms and the construction industry.

"The combination will make Hydro the only global company in the aluminum industry that is fully integrated across the value chain and markets," Hydro said.