Norwegian aluminium firm Norsk Hydro has agreed to sell its Portalex extrusion plant in Cacem, Portugal, to Germany's Bavaria Industriekapital AG for an undisclosed sum, the company said on Wednesday.
The transaction is expected to close on Aug. 31, Hydro said, adding that the plant, which handles extrusion and product finishing, employs about 170 people.
"Portalex, as the company is known in the market, has felt the downturn in the Portuguese market and struggled over the last years," Hydro said.
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