Hydro agrees to sell Taiwan remelter
Hydro has entered into a binding agreement to sell its aluminium remelt plant in Taiwan to Ting Sin Metal Co. Ltd. The transaction is expected to close during October.
Hydro invested in the remelt plant in March 2008, and the company is a fully owned subsidiary.
Ting Sin Metal Co. Ltd., a company already in the Taiwanese aluminium remelt market, will take over the Hydro Aluminium Taiwan operations, while Hydro will focus on supplying primary metal products to Taiwan.
The remelter has an annual capacity of about 75,000 metric tons of extrusion ingot, and is mainly serving the Taiwanese market.
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Source: Norsk Hydro via Thomson Reuters ONE
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