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Article: Norsk Hydro offloads automotive structures business.(Brief article)
- Article from:
- Nordic Business Report
- Article date:
- October 27, 2009
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NORDIC BUSINESS REPORT-27 October 2009-Norsk Hydro offloads automotive structures business(C)1994-2009 M2 COMMUNICATIONS http://www.m2.com
27 October 2009 - Norwegian aluminium major Norsk Hydro ASA (OSL: NHY) said it agreed today to sell its automotive structures business to Benteler Automobiltechnik GmbH, part of German group Benteler AG.
The purchase price was not disclosed but Hydro expects the deal to be cash neutral for it. The company will book an estimated after-tax loss of NOK250m in its results for the fourth quarter of 2009.
The divestment is in line with Hydro's strategy to focus its activities within extruded products on profiles ...