Hydro sells Worcester plant to Holden Lightweight Ltd.
(March 16, 2007) Hydro has agreed to sell its automotive components plant in Worcester to the local UK-based and privately owned Holden Lightweight Ltd.
 SOLD: Hydro's Automotive Structures plant in Worcester, UK, has been sold to a British aluminium company, Holden Lightweight Ltd. (Photo: Craig Johnson) |
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The divestment is part of Hydro’s restructuring of its aluminium downstream portfolio.
Hydro's automotive plant in Worcester is one of the world’s leading companies in the design and production of lightweight bonded aluminium frames for automobiles.
Since 1999, when the plant was opened, the company has delivered around 40,000 frames to customers like Aston Martin and Lotus. Other customers include BMW and Jaguar.
Hydro is pleased to have found a good industrial solution for the company and its employees.
Holden Lightweight Ltd. is based in nearby Bromyard. The company delivers aluminium components to automotive, electronics and architectural customers in the UK.
The sale agreement secures employment for about 130 employees at the Worcester plant. The new owner will continue with current business in Worcester, and has the support of the plant’s main customers.
Hydro will experience no significant financial impact before or after tax.
Eivind Reiten, Hydro’s president and CEO, announced last November that the company would work to divest its businesses in automotive castings and structural automotive components.
The sale of the castings operations was finalized on March 1, while the divestment of Hydro’s structural components business – with the exception of Worcester – remains ongoing.
- Thomas Knutzen
Hydro, Oslo, Norway
+47 22539115
+47 90612359
- Jeremy Holden
Holden Lightweight Ltd.
+44 (0)1885 482222
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