Hydro Extrusions has signed an agreement to sell 100% of its wholly-owned subsidiary Hydro Precision Tubing Lichtervelde (HPTL) to Aurelius Group on July 2, 2021. The deal was expected to be closed in the third quarter of this year.
Besides, Hydro recently also signed a letter of intent with Midwest Energy and Communications (MEC) to build an aluminum extrusion ingot in Cassopolis, Michigan. This US$120 million project was planned to be completed in 2025. The produced ingot will be used in the automobile industry, other transportation, and building systems.
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