Norsk Hydro ASA offers to acquire Icelandic aluminium plant ISAL
Norsk Hydro ASA claims a binding offer to obtain Rio Tinto‘s 100% share of Icelandic aluminium plant ISAL. The offer also includes the Dutch anode facility Aluchemie and Swedish aluminium fluoride plant Alufluor.
Hydro President and CEO Svein Richard Brandtzæg said “The offer demonstrates our strong belief in aluminium, which is seeing the strongest global demand growth among base metals. Having presence across the value chain is essential to create value from this growth and promote sustainable practices in our global operations.”
Hydro sees synergies with respect to technology creep, optimization of anode portfolio and freight and handling. The Icelandic plant runs on the same technology platform as Hydro’s Husnes plant in Norway, where Hydro recently announced a re-opening and technological upgrade of the plants’ second electrolysis line.
Hilde Merete Aasheim, Head of Hydro’s Primary Metal business area said “We see great potential in exchanging competence and technology elements between our aluminium plants. We are now running a technology pilot in Norway which aims to be the world’s most energy-efficient and climate friendly aluminium production facility. These innovations will be expanded to other Hydro facilities, and as part of Hydro, ISAL will benefit from such technological spin-offs and competence.”