The transaction was announced on December 17, 2021, and structured as an asset sale for USD 33 million on a cash-free and debt-free basis and includes the Kuppam plant with approximately 245 direct employees and  224 contract employees.

Hydro remains committed to the precision tubing markets, as well as to the general extrusion and fabrication operations, and will have a strong footprint worldwide, maintaining its close cooperation with customers.