Norsk Hydro to sell Auto Structures Unit

Posted in Industry News on 26th November 2009

Global aluminium producer Norsk Hydro ASA, have recently announced their intentions to sell its automotive structures business to an established auto parts supplier in Germany.

Making the announcement from their global headquarters in Oslo, the foundry alloy suppliers didn"t divulge the intricate details of the deal but did confirm that the automotive unit would hopefully be sold to Benteler before the end of the year.

The decision to sell the automotive unit was taken after Norsk Hydro admitted that the sector had been a challenge over the past year, particularly with regards to the state of the market environment.

Benteler however were far more optimistic that the unit will turn out to be a sound investment and ultimately profitable in the forthcoming year by placing a clear focus on aluminium and lightweight solutions.

Despite the sale of its automotive structures business, Norsk Hydro stated that they weren"t intending to leave the automotive market altogether. Un-deterred from the previous year, they are now looking to expand their North American automotive division and its foundry alloy business sector.

William Rowland Ltd are ferro alloy suppliers, and if you would like to find out how we can meet your requirements, please contact us using the Quick Enquiry Form on the right-hand side of this website.

Tags: