Hydro, a subsidiary of Norsk Hydro ASA, one of the largest aluminium groups worldwide, headquartered in Norway, is closing sown its car components facility Hydro Components UK Ltd in Rotherham. The plant is specialized for aluminium fabrication. The decision is a part of the wider restructuring of its extruded solutions operations.
The plant is situated on the Barbot Hall Industrial Estate and it offers surface finishing and mechanical fabrication solutions for the automotive industry.
Hydro delivers to all UK based automotive manufacturers Jaguar/Landrover, Nissan, Toyota, Honda, Aston Martin, etc and also exports approximately 20% of its turnover into mainland Europe Volvo, Fiat, BMW.
Hilde Merete Aasheim, President and CEO of Hydro said: “We have taken firm measures in a weak market. Our improvement program, as well as cash release ambition, is ahead of plan. Our improvement efforts will continue with full force, in line with our agenda towards lifting profitability and driving sustainability."
A statement that came from Hydro is that last year Europe and North America have shown a negative demand for its extrusions products driven by weak macro-economic development.
The outcome of it, Hydro announced that its Extruded Solutions subsidiary is taking tough decisions in weak markets.
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