New extrusion press opens in Argentina

(April 24, 2002) Hydro's chief executive Eivind Reiten formally opened a new aluminum extrusion press in Pilar, in the state of Buenos Aires, Argentina. A representative from the Department of Production was also present at the opening.

Hydro has been present with extrusion activities in Argentina since 2001, when the company bought all the shares Aldural. At the time of the acquisition, Aldural had one press in operation, with plans of building this second press.

The new press offers a capacity of 10,000 metric tons per year, increasing the total capacity of the extrusion plant in Aldural to 13,500 tons per year. Due to the current market situation, the plant will not be running on full capacity.

Argentina is currently in a difficult situation. Recent events, with significant currency losses and falling demand, have had a negative impact on business. The extrusion business in Argentina has also been hit by the downturn in the economy. In the longer term, demand is expected to increase.