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Sapa completes sale of extrusion assets to SKA Invest
Edited by : AL CIRCLE
1 min read
Sapa has completed the divestment of its aluminium extrusion operations in Raufoss, Norway, and its affiliated fabrication plant in Vetlanda, Sweden, to SKA Invest AS.
The sale agreement, signed on September 10 this year, has been formally approved by the European Commission and the competition regulatory authorities in Norway. The transaction was completed on November 1.
The divestment was one of the remedies proposed by Hydro to obtain EU approval of the Sapa joint venture, which is owned equally by Hydro and Orkla.
The former Hydro Aluminium Profiler AS plant in Raufoss has three extrusion presses and capacity of around 30,000 metric tons. The unit has administration, sales, extrusion, and surface treatment and employs around 170 people. The affiliated plant in Sweden employs around 40 people, with functions for sales and customer support, and a unit for fabrication and processing of aluminium extrusions.
The sale agreement, signed on September 10 this year, has been formally approved by the European Commission and the competition regulatory authorities in Norway. The transaction was completed on November 1.
The divestment was one of the remedies proposed by Hydro to obtain EU approval of the Sapa joint venture, which is owned equally by Hydro and Orkla.
The former Hydro Aluminium Profiler AS plant in Raufoss has three extrusion presses and capacity of around 30,000 metric tons. The unit has administration, sales, extrusion, and surface treatment and employs around 170 people. The affiliated plant in Sweden employs around 40 people, with functions for sales and customer support, and a unit for fabrication and processing of aluminium extrusions.
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