Norsk Hydro Announced Acquisition of Leading German Extrusions Business

SEATTLE (Scrap Monster): Norsk Hydro announced that it has signed an agreement to acquire Hueck, a Germany-based leading provider of aluminium window, door, and façade systems and extruded aluminium profiles. The enterprise value of the transaction is estimated at around Eur 60.3 million. The transaction is subject to approval by competition authorities in Germany and Austria and is expected by Q1 next year.

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Hueck operates two extrusion presses of 8 and 12 inches and an integrated cast house operation with an annual capacity of 50,000 tonnes. It owns a factory in the outskirts of Ludenscheid City and an office in the city centre. The company had reported revenue and EBITDA of Eur 172 million and Eur 12.8 million during the previous year. It has nearly 500 employees.

Commenting on the transaction, Paul Warton, Executive Vice President of Hydro Extrusions noted that Hueck is a major service provider to Europe’s building systems and extrusions market and a perfect fit to Hydro Extrusions. The acquisition will strengthen Hydro’s ability to provide quality service to European customers, with an even broader product range, he added.

The acquisition will lift the number of Hydro’s extrusion facilities in Germany to five.