Hydro to sell its welded tube business in Remscheid, Germany to Rupert Fertinger GmbH
Hydro announced that Rupert Fertinger GmbH will to acquire Hydro Extruded Solutions operations in Remscheid, Germany. Hydro and Rupert Fertinger GmbH (Fertinger) have signed a Term Sheet for Fertinger to acquire the company’s welded tube business in Remscheid, Germany.
The Remscheid operations, which employ 124 people, was planned to be closed by Hydro at year end. The agreement is expected to be completed on October 1, 2020.
“In the transaction, Fertinger will take over a majority of the employees, and the transaction will secure continued deliveries to the customers of Hydro Remscheid.”
“We are pleased to have reached an agreement with Fertinger that will allow for the continued operations of the Remscheid facility. We see this as a good solution, both for the employees and for the customers of Hydro Remscheid,” said Hydro Precision Tubing president, Erik Fossum.
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