Veirano Advogados and Pinheiro Neto advised on the deal
Hydro Extruded Solutions AS finalized the acquisition of Tubatinga Extrusora Ltda. fromArconic Indústria e Comércio de Metais Ltda.
The two extrusion plants in Utinga and Tubarão in southern Brazil have more than 600 employees in total, one casthouse, seven extrusion presses ranging from 7 to 14 inches, and value-added capabilities.
The transaction is in line with Hydro’s strategy of selected growth within its business area Extruded Solutions, and will strengthen Hydro’s downstream position in Brazil.
Under the terms of the agreement, the price includes a cash payment from Hydro of USD 10 million, subject to working capital and other adjustments.
Hydro’s extruded solutions division in South America will continue to be headed by Haroldo Chieza, with an extended management team including the Utinga and Tubarão plant managers. Extruded Solutions in South America is part of the business unit Precision Tubing, headed by Senior Vice President and Head of Precision Tubing Sergio Vendrasco.
Hydro Extruded Solutions AS operates as a subsidiary of Norsk Hydro ASA.
Norsk Hydro ASA operates as an integrated aluminum company worldwide. It operates in six segments: Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, Extruded Solutions, and Energy. The company, led by Svein Richard Brandtzæg is based in Norway.
Veirano advised Hydro Extruded Solutions AS with Gustavo Moraes Stolagli (Picture), Vanessa Bertonha Felicio, Susan Nathaly Uquillas Mosquera and Rodrigo Martins Duarte.
Pinheiro Neto advised Arconic Indústria e Comércio de Metais Ltda. with Vânia Marques Ribeiro Moyano, Sofia Toledo Piza, Caroline Rodrigues Ogata and Obede Franklin Moura e Silva Junior.
Involved fees earner: Gustavo Moraes Stolagli – Veirano Advogados; Vanessa Bertonha Felicio – Veirano Advogados; Rodrigo Martins Duarte – Veirano Advogados; Vania Marques Ribeiro Moyano – Pinheiro Neto; Sofia Ramos de Toledo Piza – Pinheiro Neto; Caroline Rodrigues Ogata – Pinheiro Neto; Obede Franklin Moura e Silva Junior – Pinheiro Neto;