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Orkla ASA and Norsk Hydro ASA Complete Establishment of Sapa Aluminium Joint Venture

Monday, 2 Sep 2013 02:01am EDT 

Orkla ASA announced that the transaction to combine Norsk Hydro ASA's Extruded Products business area and Orkla ASA's Sapa into a 50/50 joint venture has been completed as planned. Orkla and Hydro agreed in October 2012 to combine their respective profiles, building systems and tubing operations in a joint venture, owned 50/50 by the two companies. The new entity, Sapa, is a player within the field of extruded aluminium solutions. The company has 23,000 employees, and is headquartered in Oslo, Norway. Sapa is serving customers from more than 100 production units in 40 countries. The new joint venture is operating in Europe and North America, Brazil, China, India and Vietnam. 

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0.33 +0.91%
20 Aug 2014