02. Oktober 2017 | Branche

Hydro’s acquisition of Sapa completed

Norsk Hydro’s acquisition of Orkla’s 50% ownership in Sapa was completed on 2 October, giving Hydro full ownership in the global leader in extruded aluminium solutions and making the company a leading force in the global aluminium industry. Sapa will become a new business area in Hydro, Extruded Solutions, and will be headed by Egil Hogna. The agreed enterprise value for 100% of Sapa is NOK27 billion. A preliminary purchase price for the shares, adjusted for net debt and normalized working capital, of NOK11.86 billion was paid in cash to Orkla.

Formed as a 50/50 joint venture between Orkla and Hydro in 2013, Sapa has been a highly successful aluminium solutions provider and the world's largest extrusion company. As Hydro's new Extruded Solutions business area, it will continue to operate with the business units Extrusion Europe, Extrusion North America, Precision Tubing and Building Systems, and has 22,400 employees and presence in around 40 countries.

Following completion of the transaction, Hydro is a global integrated aluminium company with production, sales and trading activities throughout the value chain, from bauxite, alumina and energy generation to the production of primary aluminium, rolled products, extruded products as well as recycling. Based in Norway, the company has around 35,000 employees involved in activities in more than 40 countries on all continents. Rooted in more than a century of experience in renewable energy production, technology development and progressive partnerships, Hydro is committed to strengthening the viability of the customers and communities we serve.