Norsk Hydro : Norsk Hydro: Hydro acquires Vigeland Metal Refinery and
Hydro has signed an agreement with Rio Tinto Alcan to acquire its 50 percent
ownership share in the Vigeland Metal Refinery AS and 100 percent ownership
share in the AS Vigelands Brug hydropower station, located in southern Norway.
Hydro held a 50-percent ownership share in Vigeland Metal Refinery AS prior to
the transaction, and was the sole off-taker of its production of high-purity
High purity aluminium is a vital part in semiconductors and several electronic
applications such as LCD screens for TVs, computers, cell phones and tablets.
"The metal refinery fits very well into the company's value added product
strategy", said Executive Vice President and Head of Primary Metal, Hilde
Executive Vice President and Head of Energy and Corporate Business
Development, Arvid Moss, said the acquisition was a good example of
cooperation across Hydro's business areas.
"The Vigeland transaction represents a close match with Hydro's overall
business model as an integrated aluminium company, comprising an on-site
hydropower asset supplying the refinery with electricity," he said.
The transaction will be notified to the Norwegian Competition Authority, and
Hydro will also apply to Norwegian authorities for an approval to acquire the
hydropower assets in AS Vigelands Brug.
Located in Vennesla at the lower part of the Otra River, the Vigeland Metal
Refinery, organized within Hydro's Primary Metal division, has an annual
production capacity of 8,500 tonnes of high-purity (99.99-99.999%) aluminium.
Located on site, the AS Vigelands Brug "run-on-the-river" power station
produces about 180 GWh in a normal year.
Originally established already in 1621 as a saw mill, production of electrical
power at Vigeland was commissioned in 1907 and aluminium production started in
1908, making it the longest-running aluminium plant still in operation in
Contact Pål Kildemo
Cellular +47 97096711
Contact Halvor Molland
Cellular +47 92979797
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Source: Norsk Hydro via Thomson Reuters ONE
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