Norwegian Aluminium Producer Hydro Completes Acquisition of Polish Recycler Alumetal

Norway: Norwegian Aluminium company, Norsk Hydro ASA, announced the successful acquisition of Alumetal S.A., a leading Polish producer of recycled-content Aluminium. This strategic move by Hydro is expected to expand its product offerings in the low-Carbon and scrap-based foundry alloy market. The acquisition process began in May 2022 with stiff competition from another bid made by Elemental Holding S.A. of Luxembourg. After European Commission approval, Norsk Hydro secured over 97% of Alumetal's shares through a tender offer.

Hydro's acquisition of Alumetal S.A. will enhance the former's capabilities in Aluminum scrap material recycling, while also boosting the latter's competitive position by becoming a part of one of the world's leading Aluminum companies. Alumetal's CEO, Agnieszka Drzyzdzyk, views the acquisition as a testament to their team's remarkable efforts over the last two decades, highlighting their journey of growth and development. Drzyzdzyk expresses pride in her employees and looks forward to an even more promising future collaborating with Hydro.

Successfully completing the acquisition transaction, Hydro and Alumetal will begin integrating the Polish recycler into Hydro, according to sources. However, it is not clear exactly what this integration process will entail or how long it will take. It is worth noting that Alumetal will remain a standalone company within the Hydro family and continue operating according to its current business, organizational, and operational model.

Norsk Hydro ASA is a global supplier of Aluminum committed to a sustainable. With in Oslo, Norway, the company is one of the largest Aluminum producers worldwide. company engages in a wide range of operations including generating power, extracting bauxite, refining alumina, smelting Aluminum, remelting, rolling, recycling, and producing extruded solutions. With more than 140 locations in 40 countries, Norsk Hydro has made safety and security a top priority, ensuring a secure workplace for over 31,000 employees. The Norwegian state owns 34.3% of the company, with an additional 6.5% owned by Folketrygdfond, which administers the Government Pension Fund of Norway.

Alumetal Group's four plants, located in Poland and Hungary, have a combined annual production capacity of 275,000 tons. The company specializes in producing high-quality casting alloys made from secondary Aluminum. Alumetal also offers top-quality primary alloys, fluxes, and salts, as well as AlTiB wire for grain refinement and Aluminum for steel deoxidation. Approximately 80% of the company's customers come from the automotive industry. Alumetal's commitment to quality ensures that it is a trusted partner of major automotive players like VW Group, Nemak, and Federal Mogul Group, among many others, both locally and internationally.