| By Marketwire . |
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| September 24, 2012 02:39 AM EDT |
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OSLO, NORWAY -- (Marketwire) -- 09/24/12 -- Hydro has entered into a binding agreement to
sell its aluminium remelt plant in
Taiwan to Ting Sin Metal Co. Ltd. The transaction is expected to close
during
October.
Hydro invested in the remelt plant in March 2008, and the company is a
fully
owned subsidiary.
Ting Sin Metal Co. Ltd., a company already in the Taiwanese aluminium
remelt
market, will take over the Hydro Aluminium Taiwan operations, while Hydro
will
focus on supplying primary metal products to Taiwan.
The remelter has an annual capacity of about 75,000 metric tons of
extrusion
ingot, and is mainly serving the Taiwanese market.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norsk Hydro via Thomson Reuters ONE
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