19 SEPTEMBER 2011Steelguru
Norsk Hydro sells stake in alumina refinery
Edited by : AL CIRCLE
1 min read
Norwegian aluminium producer Norsk Hydro would sell its 35% stake in a Jamaican alumina refinery partnership Alpart to Russian peer UC Rusal for NOK 250 million.
Hydro said UC Rusal, the world top aluminium producer will own all the shares in Alpart when the transaction is completed in October.
Operations in the Alpart bauxite mines and the alumina refinery in Jamaica with a production capacity of around 1.65 million tonnes alumina per year have been curtailed since 2009 due to overcapacity in the alumina market.
Hydro said UC Rusal, the world top aluminium producer will own all the shares in Alpart when the transaction is completed in October.
Operations in the Alpart bauxite mines and the alumina refinery in Jamaica with a production capacity of around 1.65 million tonnes alumina per year have been curtailed since 2009 due to overcapacity in the alumina market.
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