Hydro Aluminium strengthens position in Finland

(Dec. 23, 2003) Hydro Aluminium has agreed to acquire a controlling interest in Salko Aluminium Oy, a supplier of extruded components located in Finland.

Hydro increases its share ownership from the current 24.9 per cent to 63.0 per cent by the acquisition of a further 38.1 per cent of the equity. Closing will take place on 30 December 2003. The sellers are management and private investors, all of whom will retain shares in the company.

Salko Aluminium Oy is a supplier of painted and fabricated components based on aluminium extrusions to the Finnish market. It was established in December 2000 and has a forecast turnover for 2003 of  EUR 6.5 million. The company has 60 employees.

Salko becomes a unit of the Norwegian-based company Hydro Aluminium Profiler a.s. The majority ownership will enable Hydro Aluminium Profiler to improve and expand its service to customers in Finland.