SKA Invest, a Norwegian investment company, has entered into an agreement to buy Hydro Trans, which has activities in Norway, Finland and Denmark.
Hydro Trans is a leading Nordic supplier of aluminium systems for heavy transport. The company, wholly owned by Hydro, has 20 employees at production sites in Norway and Denmark, and a sales office in Finland.
“Hydro Trans supplies aluminium products of very high quality, but have struggled with achieving satisfactory profitability, especially when demand declined due to the economic downturn,” says Trond Sandberg, head of Hydro Aluminium Profiler.In 2009, Hydro Trans delivered 650 tonnes of aluminium-based systems. It has a market share of about 20 percent.
“SKA Invest and its owner, Ståle Karlsen, have demonstrated that they have been successful with similar operations, and we’re happy to have found a good industrial solution that can create synergies and strengthen the commercial platform for the company.”
SKA Invest has earlier acquired other businesses from Hydro – Hydal and Extrusions Tools. Both have experienced good development.
The transaction, to be completed March 1, is dependent upon approval by competition authorities.