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Norsk Hydro unit buying 2 Brazilian plants from Arconic for US$10M

Norsk Hydro ASA unit Hydro Extruded Solutions AS agreed to acquire two extrusion plants in Utinga and Tubarão in southern Brazil from Arconic Inc. for US$10 million, the companies said in separate Dec. 8 statements.

As rationale, Norsk Hydro noted its strategy to expand its Extruded Solutions business and further strengthen its position in Brazil, while Arconic cited ongoing efforts to streamline its portfolio and focus on higher-margin products.

Arconic expects to book a restructuring-related charge of approximately US$40 million in the fourth quarter as a result, although it does not expect the charge to affect its adjusted EPS.

The transaction is expected to be completed in the first half of 2018, subject to regulatory approvals.