Hydro has entered into a binding agreement to sell its aluminium rolling mill in Cisterna di Latina, Italy, to Rolling Mills International GmbH.
Hydro’s rolling mill in Cisterna di Latina produces aluminium rolled products, mainly standard strip and sheet, as well as plain foil. Through the agreement, Rolling Mills International GmbH will acquire 100 percent of the shares in Hydro Aluminium Slim S.p.A. Rolling Mills International GmbH is controlled by Quantum Capital Partners AG, a Munich-based investment company.
The transaction is expected to close by end 2015.
Hydro Aluminium Slim S.p.A has around 430 employees and a production capacity of around 92,000 metric tonnes rolled products per year. The plant was established in 1964, and Hydro took over the plant in 2002 as part of the acquisition of German aluminium producer VAW.