Norsk Hydro Enters China's Aluminum Extrusion Market

Oslo, Norway-based Norsk Hydro ASA has signed a joint venture to operate a new Hydro Aluminum Extrusion unit in Wuxi, China. It is the company's first majority-owned operation in China.

The unit will start operating in the third quarter of 2000 and is a partnership with Chinese entrepreneur Zhou Fuhai, the leading domestic supplier of drawn tubes. Hydro Aluminum Wuxi will supply the automotive parts market in Asia with heat-transfer tubes.

The unit is 70% owned by Hydro Asia Pacific Pte. Ltd., Hydro's joint venture company with Singapore investment company Temasek Holdings. Fuhai owns the remaining 30%.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish