Norsk Hydro ASA, the Norwegian Oil and Energy, Aluminium and Agri group, has completed the acquisition of the German aluminium company, VAW aluminium AG.
The closing comes just a little over two months after Hydro entered into the agreement with the German utility and industry group, E.ON, to acquire VAW. The completion of the transaction is to be followed by a rapid integration of Hydro and VAW, which will create Hydro Aluminium.
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Hydro Aluminium will be one of the top three global aluminium suppliers, and market leader in important market segments. Hydro Aluminium will have a total business volume within primary aluminium cast house products of approximately 2.8 million tonnes. The combined group will have strong positions in markets for rolled and extruded products, and will be a global leader in aluminium applications for the building and automotive industries.
