Hydro signs NOK 200 million contract with Innovation Group for casthouse technology
Hydro has signed a NOK 200 million contract for the supply of new state-of-the-art casting lines. In total, four new casting lines will be supplied to the customer.
Hycast, a fully owned subsidiary of Hydro, and Innovation Group, the leading manufacturer of extrusion ingots in China, have inked an agreement to deliver casting technology (Low Pressure Casting - LPC) for extrusion ingots, including control system, launder system, inline melt treatment systems (Siphon Inert Reactor - SIR) and other equipment.
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“We are very happy to have landed one of the biggest contracts in Hycast’s over thirty-year history,” said Hycast Managing Director Ola Ulvund.
“Large parts of our Hycast organization have been working on this deal over a long period of time, including the newly opened Hycast China branch. The combination of a solid home office and feet on the ground, has proven to be a key factor during the global pandemic, where ability to travel and meet in person have been very limited. The deal proves Hycast’s ability to deliver competitive and technologically advanced solutions the market wants.”
Innovation Group has a combined capacity of around 5.1 million tonnes annually. The deliveries are scheduled to start in the third quarter of 2022 and end by 2022.
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