Alumetal

Hydro will invest approximately NOK 200 million to modernize and expand the Alumetal recycling plant in Kęty, Poland, increasing capacity by about 30,000 tonnes of foundry alloys. The project is expected to be operational in the first half of 2025.

Hydro has completed the acquisition of Polish aluminium recycler Alumetal S.A., acquiring over 97% of shares. The deal strengthens Hydro's recycling position in Europe and its low-carbon aluminium product offering.

Norsk Hydro ASA has relaunched a tender offer process to acquire 100% of the shares of Polish recycler Alumetal S.A. for approximately PLN 1,230 million (about EUR 267 million). The European Commission's merger review is pending with a provisional decision deadline of May 23, 2023.

Alumetal Poland, a subsidiary of Alumetal S.A., signed a contract with Tesla Manufacturing Brandenburg SE to supply aluminium casting alloys. The contract is dated November 22, 2022 and runs through end of 2023.

Norsk Hydro announced a tender offer to acquire 100% of shares of Alumetal S.A., a Polish aluminium recycler listed on the Warsaw Stock Exchange, for PLN 68.4 per share, representing an aggregate equity purchase price of approximately PLN 1.066 billion (approx. EUR 232 million).