Twenty-five years ago, Hydro spent NOK 149 million to acquire five extrusion plants from Alcan and double the size of its extrusion group. Each plant is still contributing to the company's downstream aluminium business, after all these years.
Back then, in 1986, the story was big enough to merit publication in Financial Times, which printed in its newspaper a full story - on the negotiations. "Norsk Hydro in negotiations for five Alcan extrusion plants" was the headline for its May 21 story.
The acquisition was completed in August, and left Hydro's Extrusion Group, as it was known, with five new sites:
- Raeren, Belgium
- Lucé, France
- Pinon, France
- Uphusen, Germany
- Ornago, Italy
In addition to its extrusion activities, the Ornago site developed the building systems brand Domal, which has also created good value for the operation and for Hydro over the years.
The completion of the "North Star" project, as it was called, did not represent the end of the year for Hydro and its blossoming activity in the aluminium business. Hardly.
At right around the same time as the acquisition was completed, the Extrusion Group moved away from home, taking its top management from Oslo to Lausanne, where it remains today.
More importantly, Hydro completed a "transforming" transaction on September 1, when it took over Årdal og Sunndal Verk (ÅSV). The ÅSV acquisition put Hydro on another level in the aluminium industry, especially in Europe, in technological expertise and in the production of primary aluminium.
Suddenly, Hydro had become the fifth-largest aluminium company in the world. And it was not to stop with the important historical events that took place 25 years ago ...
- Click on the link in the right-hand column
for more information on the ÅSV acquisition.