The two extrusion plants, in Utinga (SP) and Tubarão (SC), have more than 600 employees in all, a foundry, seven extrusion presses from 7 to 14 inches and value-added capacities.>
The transaction is in line with Hydro's growth strategy selected for the Extruded Products business area, strengthening Hydro's position in the downstream business in Brazil.
“We believe in the importance of being close to our customers, in order to be able to offer high quality personalized solutions and local support. With the acquisition of the Utinga and Tubarão plants, Hydro will be the leader in the Brazilian extrusion market, ”said Hydro's executive vice president and head of the Extruded Products business area (formerly Sapa), Egil Hogna.
Strengthening the direction
Under the terms of the agreement, the purchase price includes a cash payment of USD 10 million, subject to changes in working capital and other adjustments.The extruded solutions division in South America will continue under the direction of Haroldo Chieza, with an expanded direction to include the Utinga and Tubarão plant directors. The Extruded Products South America division is part of the Precision Tubes business unit, headed by Senior Vice President, Sergio Vendrasco. & Nbsp;