Tuesday, Norsk Hydro ASA (NHYDY.PK) said it has entered into an agreement to divest its automotive structures business to Benteler Automobiltechnik GmbH, the automotive division of the large German industrial enterprise Benteler Group with headquarters in Paderborn, Germany. The agreement represents a solid, long-term industrial solution for Hydro's automotive structures activities, and is in line with Hydro's strategy to focus its extruded activities on profiles solutions and building systems.
The transaction is expected to be cash neutral for Hydro, and an estimated after tax loss of NOK 250 million will be recognized in Hydro's fourth quarter 2009 results. Hydro said it expects the transaction to close by the end of fourth quarter 2009 subject to clearance by relevant competition authorities and other anti-trust bodies.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.