Norsk Hydro: Hydro acquires Vigeland Metal Refinery and Vigelands Brug
OSLO, NORWAY -- (Marketwired) -- 06/17/13 -- 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
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
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 Merete
Executive Vice President and Head of Energy and Corporate Business
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
model as an integrated aluminium company, comprising
an on-site hydropower asset
supplying the refinery with electricity,"
The transaction will be notified to the Norwegian Competition
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
Located on site, the AS Vigelands Brug
"run-on-the-river" power station produces
about 180 GWh in a normal
Originally established already in 1621 as a saw mill, production of
power at Vigeland was commissioned in 1907 and aluminium
production started in
1908, making it the longest-running aluminium
plant still in operation in Norway.
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Source: Norsk Hydro via Thomson Reuters ONE [HUG#1709638]
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