Norwegian Hydro Buys Spanish Alumafel

Norwegian aluminum producer Hydro announced it has agreed to buy Spanish private company Alumafel Group for 77 million euro. The 30-year-old Alumafel Group, a leading producer in aluminum products for building in the country, produced 10,000 tons of construction products, 1,300 tons of extrusions as well as 7,000 tons of aluminum sheet and aluminum rod. Most of the group’s subsidiaries are in northern Spain, with a majority of manufacturing plants in Miranda. This is Hydro’s second acquisition in Spain following buying Expral extrusion plant nearby Madrid. Hydro said it enjoys a leading position in Spain with an annual capacity of 140,000 tons in construction products. Spain is the second largest market in Western Europe just after Italy. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.