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Article: United States : Hydro to sell off automotive structures business.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
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Byline: manish03
Azom reported that Norsk Hydro ASA has entered into an agreement to divest its automotive structures business to Benteler Automobiltechnik GmbH, the automotive division of the large German industrial enterprise Benteler Group with headquarters in Paderborn, Germany. The agreement represents a solid, long term industrial solution for Hydro s automotive structures activities and is in line with Hydro's strategy to focus its extruded activities on profiles solutions and building systems.
Mr Svein Richard Brandtzaeg president and CEO of Norsk Hydro said that the transaction is expected to be cash neutral for Hydro and an estimated after tax ...