Hydro agrees to sell Taiwan remelter

Mon Sep 24, 2012 2:33am EDT

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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.

Investor contact
Contact     Rikard Lindqvist
Cellular    +47 41751199
E-mail      Rikard.Lindqvist@hydro.com

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Source: Norsk Hydro via Thomson Reuters ONE


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