Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Norsk Hydro plans to sell off 100pc of its stake in the Hydro Precision Tubing Lichtervelde (HTPL) plant to a European holding company, Aurelius Group, by Q3 2021. 


In a release dated Jul 2, Hydro signed the deal at an undisclosed price as part of a massive restructuring at Hydro Extrusions. HTPL assets include a cast house, cold rolling mill, and four tube-producing lines. The company is clear that this sale is directly intended to create funds and liquidity for its Extrusions vertical. 


The same day, Hydro signed a letter of intent to set up a 120,000mt per year aluminum recycling plant in Cassopolis, Michigan, which will produce raw materials for its Extrusions business. The investment was estimated at around $120mn and the plant will be commissioned in 2023. 

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