Norsk Hydro: Hydro renews metal sales agreement with Sapa JV

OSLO, Norway, June 7, 2016 (GLOBE NEWSWIRE) -- Norwegian aluminium company Norsk Hydro ASA's fully owned subsidiary, Hydro Aluminium AS, has entered into a sales agreement with Sapa AS, a global provider of downstream aluminium solutions, owned 50 percent by Hydro, to supply extrusion ingot under an open-ended agreement starting in 2017.

The agreement covers extrusion ingot in Europe, and replaces the existing contract, which was entered into at the closing of the Sapa Joint venture in 2013, and expires by the end of 2016. The agreement is at market terms, and covers a volume commitment range of 250 to 300 kmt, that can be adjusted on a yearly basis.

"Hydro's experience and technological edge along the value chain provides our customers with value added aluminium products, and we are happy to continue our supply of high quality aluminium to Sapa," says President and CEO, Svein Richard Brandtzæg.

Sapa is the world leader in downstream aluminium solutions - a result of the merger of the aluminium extrusion businesses of Orkla and Hydro. Sapa has a global reach and local presence within extrusions, building systems, and precision tubing. Sapa has 22,800 employees in more than 40 countries, and the headquarters are located in Oslo, Norway.

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Source:Norsk Hydro