Norsk Hydro To Sell Malaysian Rolling Mill - Quick Facts

Norwegian aluminum producer Norsk Hydro ASA (NHYDY.PK,NHYKF.PK,NHY) reported signing a binding deal to sell its aluminium rolling mill in Malaysia to Nippon Foil Mfg. Co., Ltd., a subsidiary of Japan-based UACJ Corp., for $20 million.

The aluminium foil plant in Pasir Gudang, Malaysia started commercial production in 1985. It was taken over by Hydro in 2002, via. the acquisition of VAW aluminium AG, and thoroughly revamped. With around 170 employees, the rolling mill produces nearly 12,000 metric tons of aluminium products every year.

The transaction may close by end of 2013, subject to the approval from the Ministry of International Trade and Industry of Malaysia.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alexander & Hornung, a business unit of Perdue Premium Meat Co., Inc., is recalling around 234,391 pounds of fully cooked pork products citing possible contamination with Listeria monocytogenes, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves ham and pepperoni products that come under various brands and produced on various dates. Sandoz, Inc., an unit of Novartis AG, is recalling one lot of deep vein thrombosis (DVT) medication Enoxaparin Sodium in the form of injection for the potential exposure to high temperatures that may have impacted product effectiveness, the U.S. Food and Drug Administration or FDA said in a statement. Livia Global, Inc., a health and wellness company, is recalling two lots of its Liviaone liquid probiotics citing the possibility of contamination by Pseudomonas aeruginosa, the U.S. Food and Drug Administration said. Pseudomonas aeruginosa is a microorganism found in the environment that, if ingested, can cause life-threatening infection in immunocompromised individuals.
Follow RTT