Hydro Extrusions Announces Sale of Fabrication Unit in Kaunas, Lithuania

In a significant move within the metals industry, Hydro Extrusions has finalized an agreement to divest its fabrication unit located in Kaunas, Lithuania, to VE Invest UAB. This announcement, made on Monday, marks a pivotal transition for the facility, which employs approximately 170 individuals across two sites within Kaunas. Primarily, this unit has been instrumental in supporting Hydro's extrusion operations in Sweden and Denmark.

The completion of this transaction is anticipated by the end of the first quarter of 2024, indicating a swift process for the change of ownership. This development reflects the dynamic nature of the metals and manufacturing sectors, where strategic adjustments are frequently made to optimize operations and focus on core areas of growth and development. The decision to sell the Kaunas fabrication unit is a step that aligns with Hydro Extrusions' broader strategic objectives, potentially paving the way for new opportunities within the industry.