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Norsk Hydro ASA invests USD30m in new aluminium tubes factory in Mexico
Nordic Business Report, June 22, 2004
NORDIC BUSINESS REPORT-22 June 2004-Norsk Hydro ASA invests USD30m in new aluminium tubes factory in Mexico(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com
The Norwegian energy and materials group Norsk Hydro ASA said on Tuesday (22 June) that it had decided to invest USD30m in a new facility for manufacturing precision aluminium tubes for the automotive industry.
The new facility will be located in Reynosa in northern Mexico and is scheduled to begin operations during the autumn of 2005.
The Reynosa facility is expected to create 100 new jobs.
Norsk Hydro said on Monday that it had signed a cooperation agreement with the US heating and cooling coils manufacturer Outokumpu Heatcraft regarding joint research and marketing activities within aluminium cooling tubes.
One US dollar (USD) is worth approximately 0.547 British pounds (GBP).
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