Azom reported that Hydro has signed an agreement to increase its ownership stake in Famco from currently 45% to a controlling majority stake. Famco is aluminium remelt plant in Taiwan with an initial annual production capacity of about 75,000 tonnes of extrusion ingot.

Mr Kjetil Ebbesberg executive VP of Hydro's Metal Markets business area said that this investment will strengthen Hydro's position in the Asian aluminium market. With local knowledge and Hydro's global technology support, we are confident Famco will serve our customers well.

Taiwan is the third largest extrusion market in Asia with a total extrusion ingot consumption of about 400,000 tonnes and the market is expected to show a healthy growth.

Hydro is currently supplying this market from its primary production plants in Australia and Qatar and is a full service provider to the Taiwanese extrusion market. The investment mainly serves the Taiwanese market, but is also a source for export to regional markets outside Taiwan. The plant delivers high quality products meeting Hydro's standards.

Hydro is committed to further expanding its activity in Asia in the years to come, and the Qatalum primary aluminium smelter which started end of last year and the further development of Famco will facilitate this ambition.

(Sourced from www.azom.com)