Orkla ASA and Norsk Hydro ASA have agreed to combine the aluminium extrusion business of Sapa and Hydro’s Extruded Products, creating a world leading supplier of extruded aluminium solutions. The company will be a 50/50 joint venture owned by Orkla and Hydro, and called Sapa, with its headquarters in Oslo.
Significant synergies will benefit the two customer centric companies and their customers, who will have access to a large array of innovative solutions and an even greater coverage of capabilities and competence.
"The new company will have the necessary strength to meet current challenging markets and create a platform for future growth in emerging markets" says Hydro's President and CEO Svein Richard Brandtzæg.
The joint venture is expected to be finalised in the first half of 2013 representing revenues of around £5.1bn, with 25000 employees in 35 countries.
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