Norsk Hydro ASA and Orkla ASA have agreed to combine their respective profiles, building systems and tubing business, creating the world's leading aluminium solutions provider. The new combined company, to be named Sapa, will be a 50/50 joint venture owned by Hydro and Orkla.
The agreement covers Profiles and Building System, as well as Extruded and Welded tubes, of Orkla's fully-owned Sapa and all of Hydro's Extruded Products business area and thus also the brand WICONA from Hydro Building Systems. The new company will have leading positions in Europe and North America, and strong footholds in emerging markets, including Brazil, Argentina, China, India and Vietnam.
Completion of the transaction is expected to take place in the first half of 2013, following approvals from relevant competition authorities.
More information on www.hydro.com