Hydro signed a binding sale agreement for its laminate plant in Cisterna di Latina, Italy, to Rolling Mills International GmbH.
Hydro's laminate plant in Cisterna di Latina produces aluminum laminated products, especially standard strips and sheets and single sheets. With the agreement, all shares of Hydro Aluminum Slim S.p.A will be acquired by Rolling Mills International GmbH, a company controlled by Quantum Capital Partners AG, which is an investment group based in Munich.
The transaction is expected to close by the end of 2015.
Hydro Aluminum Slim S.p.A has 430 employees and its production capacity is around 92 thousand metric tons of rolled products per year. The plant was built in 1964 and was taken over by Hydro in 2002, with part of the acquisition of the German aluminum producer VAW.