Jan 12 2010
The sale of Hydro's rolled products plant Inasa in Irurtzun, Spain, was finalized December 31, 2009.
NEW OWNERS: The rolling mill near Pamplona is now operating under new owners as Inasa Foil SA. (Photo: Terje S. Knudsen)
The Inasa plant near Pamplona is now operated by Bavaria Industriekapital AG under the name Inasa Foil SA.
As announced on December 2, the transaction is cash-neutral for Hydro. An after-tax book loss of about NOK 200 million will be realized in Hydro's fourth-quarter 2009 results.
The plant, with more than 200 employees and an annual capacity of 30,000 tonnes, had been part of Hydro's Rolled Products business area, which remains a leading, worldwide supplier of rolled aluminium products, shipping up to 1 million tonnes per year and employing a workforce of around 4,000.
Hydro will continue serving Spanish customers of rolled aluminium products through its sales office in Barcelona (see contact details in right column).