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Hydro to sell Hanover real estate

On 30 April 2019, Hydro's unit Hydro Aluminium Deutschland GmbH has entered into an agreement with the real estate development company Scharfstein Group regarding the sale of Hydro's former factory site at Göttingen Chaussee in Hanover, Germany.

The Scharfstein Group wants to develop the site in future, while maintaining the current industrial production. The transfer of ownership is expected to take effect on September 1, provided that all necessary conditions are met.

On that property, Hydro and previously VAW (Vereinigte Aluminium Werke) had been, since the 1930´s, operating, inter alia, a forging facility, an extrusion plant, a rolling mill and a casting facility, which were gradually sold or discontinued. Hydro recently rented the area only to industrial and commercial businesses.

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