Jul 31 2010
Hydro has signed an agreement to acquire the remaining 15.1 percent of the Formosa Alloy Materials Company (Famco). The Taiwan aluminium remelt plant consequently becomes a fully owned subsidiary of Hydro.
“The remelter is positioned in a market of strategic importance to Hydro, especially considering that the Qatalum aluminium plant is expected to reach full production in the fourth quarter this year, with Asia as its main market," says Kjetil Ebbesberg, executive vice president of Hydro's Metal Markets business area.
With an annual production capacity of about 75,000 tons of high-quality extrusion ingot, meeting Hydro’s standards, the acquisition will strengthen Hydro’s position in the fast-growing Asian aluminium market.