Hydro acquires Swedish aluminium fabricator

(Dec. 30, 2003) Hydro Aluminium has acquired 91 percent of the shares in Alube AB in Vetlanda, Sweden.

Sellers of the shares are the owners and managers of the company, Mikael and Peter Andersson. They will retain shares in the company and continue in their management positions.

Alube is a supplier of advanced fabricated components based on aluminium extrusions to the Swedish market.

For the accounting year that closed 31 August 2003, Alube had a turnover of SEK 22 million. The company has 30 employees.

Alube becomes a unit of Hydro Aluminium Profiler a.s, Norway. In a press release, it is stated that the acquisition will enable Hydro Aluminium Profiler to improve and expand its service to customers in Sweden.