Jun 22 2007
Hydro will start supplying carmakers with aluminium strip for exterior body applications, expected to be the fastest-growing segment in rolled aluminium products for the automotive industry.
Hydro's corporate management approved an investment of EUR 20 million to build a new annealing line, ready to deliver the special quality of exterior body sheet, at its rolling mill in Grevenbroich, Germany. First customer contracts are signed. Supply to leading car manufacturers will begin at the end of 2008.
"This is a very good signal for our automotive customers. Hydro already enjoys a unique reputation as a quality leader in rolled products, as well as in automotive application areas such as chassis and heat exchangers, where we are a top supplier," says Oliver Bell, President of Hydro's Rolled Products sector. "We are convinced that this investment will pay off for all stakeholders, as it expands our product portfolio in Grevenbroich and our deliveries to the automotive industry."
The expansion meets Hydro's decision to keep and further develop the company's automotive structures business, as recently announced.
"We intend to emerge as a stronger, more focused supplier of aluminium solutions to the automotive industry," says Svein Richard Brandtzæg, Executive Vice President of Hydro's Aluminium Products business area.
Hydro produces more aluminium bumper beams and precision tubes, for example for heat exchanger systems, than any other company. Hydro is also a leading supplier of foundry alloys, extruded profiles and rolled products for use in car making.
Aluminium is the leading metal for reducing the overall car weight, resulting in better fuel economy and less emissions.