Norsk Hydro: Yara to acquire power grid operator and quay facility at Heroeya

Hydro has entered into an agreement with Yara regarding the sale of Heroeya Nett AS and the quay facility at Heroeya Industrial park. The transfer, including around 30 employees, will likely occur in June 2017.

The industrial site at Heroeya has a long tradition and was for many years Hydro's largest production location, producing fertilizer, plastics, light metals and a number of related products. In recent years Heroeya has been developed as an industrial park with a number of companies and many activities.

"We are pleased to have reached an agreement with Yara regarding the acquisition of Heroeya Nett and the quay facility and are confident that the operation will be continued in the best possible way," says Executive Vice President Eivind Kallevik in Norsk Hydro ASA.

The transaction has limited financial effect for Hydro.

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Source: Norsk Hydro via Globenewswire