Hydro’s acquisition of Arconic's extrusion plants in Brazil completed

Hydro’s acquisition of Arconic's extrusion plants in Brazil completed
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hydro.com

Date: 3 April 2018

Yesterday, Norsk Hydro’s acquisition of Arconic’s two extrusion plants in Brazil was completed, strengthening Hydro’s downstream position in Brazil and creating a solid platform for further growth.

The two extrusion plants in Utinga and Tubarão in southern Brazil have more than 600 employees in total, one casthouse, seven extrusion presses ranging from 7 to 14 inches, and value-added capabilities.

The transaction is in line with Hydro’s strategy of selected growth within its business area Extruded Solutions, and will strengthen Hydro’s downstream position in Brazil.

“We believe in the importance of being close to our customers to offer high-quality customized extrusions and local support. With the acquisition of Utinga and Tubarão, Hydro will become the market leader in the Brazilian extrusion market,” says Executive Vice President and Head of Extruded Solutions, former Sapa, Egil Hogna.

 

Strengthening the management team

Under the terms of the agreement, the price includes a cash payment from Hydro of USD 10 million, subject to working capital and other adjustments.

Hydro’s extruded solutions division in South America will continue to be headed by Haroldo Chieza, with an extended management team including the Utinga and Tubarão plant managers. Extruded Solutions in South America is part of the business unit Precision Tubing, headed by Senior Vice President and Head of Precision Tubing Sergio Vendrasco.

600450 Hydro’s acquisition of Arconic's extrusion plants in Brazil completed glassonweb.com

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