Two Companies Join to Become One Aluminum Solutions Company
Orkla ASA and Norsk Hydro ASA have officially become a joint venture.
Orkla ASA and Norsk Hydro ASA agreed in October 2012 to combine their respective profiles, building systems and tubing operations in a 50/50-owned joint venture. With the last outstanding approval given from the Chinese competition authority on August 19 this year, the transaction was closed September 1.
“I am very pleased to see Sapa AS emerge as the global leader in aluminum solutions. Sapa has the strength and ability to serve both local and global customers. We will continue developing innovative aluminum solutions and shaping a lighter future together with our customers across the globe,” says Svein Tore Holsether, CEO of Sapa.
Sapa AS is headquartered in Oslo, Norway, combining local expertise with a global network and R&D capabilities, serving its customers from more than 100 sites in more than 40 countries. The new joint venture has leading positions in Europe and North America, and strong footholds in emerging markets such as Brazil, China, India and Vietnam.
In North America, Sapa AS will include the 16 former Sapa Extrusions North America locations.