OSLO (dpa-AFX) - Hydro Extruded Solutions AS has agreed with Arconic to acquire its two extrusion plants in Brazil. The agreement will strengthen Hydro's downstream position in Brazil and create a solid platform for further growth.
The two extrusion plants in Utinga and Tubarão in southern Brazil have combined more than 600 employees, 1 cast house, 7 presses ranging from 7 to 14 inches and value-added capabilities.
Under the terms of the agreement, the price include a cash payment from Hydro of $10 million, subject to working capital and other adjustments.
Completion of the transaction is subject to approval from relevant competition authorities in Brazil, and is expected within the first half of 2018.
Copyright RTT News/dpa-AFX