Aluminium major Norsk Hydro said Friday that the assets of Hamburger Aluminium Werk will be sold to German Trimet Aluminium with effect as of December 1.
On Friday the three HAW shareholders, Alcoa, AMAG and Hydro, with 33.33% each, signed respective agreements with Trimet and with the owner of the site's real estate, the Hamburg Port Authority. Trimet was to restart the plant, which would offer at least 400 jobs in the new operation, according to a joint press release.
The companies said the three current owners in 2005 decided to close HAW because of the high power prices in Germany. Since this decision was made, the price for primary aluminium, as noted on the London Metal Exchange, has clearly increased, while spot price for the raw material alumina has come sharply down. However, forward prices in the German power market have increased," the groups said.
The statement said the HAW shareholders still missed a German power price regime that provided a sustainable, long-term perspective for aluminium production. "Based on a specific product portfolio, Trimet is ready to take the challenge for restarting the plant and create new employment," the companies said, adding that the Hamburg Port Authority had facilitated this transaction by agreeing to the termination of HAW's lease agreement, at terms acceptable to both parties.
"As main part of today's deal, all HAW assets are sold to Trimet who will restart the anode plant and the electrolysis. In addition, Hydro will sell to Trimet certain site infrastructure assets that it acquired from HAW when it was closed. Hydro and Trimet will simultaneously enter an agreement to provide site services to one another," the statement said.
Hydro and the Hamburg Port Authority have agreed on a draft of a new lease agreement for the casthouse area, which until now has been subleased from HAW. In addition Trimet and the Hamburg Port Authority have agreed on a new lease agreement for the HAW site, the companies said.
豫公网安备41010502003434号