Hydro to Sell Hydro Precision Tubing Lichtervelde Plant toAurelius
Hydro’s business area Extrusions has signed an agreement to sell 100% of Hydro Precision Tubing Lichtervelde on July 2, 2021, with closing expected during Q3 2021. The transaction is part of the significant restructuring measures taken to support performance and cash generation in Hydro Extrusions. HPTL, founded in 1949 and located in Lichtervelde, Belgium is a wholly owned subsidiary of Hydro, specialized in the manufacturing of welded tubes for a variety of markets, including Industrial Products and HVAC. The plant consists of a cast house, cold rolling mill and four tube lines and has approximately 185 employees. The company formerly known as Remi Claeys was acquired by the Sapa Group in 2003 and became part of Hydro in 2017.
Aurelius Group is a pan-European investment group with offices in Munich, London, Stockholm, Amsterdam and Madrid. With a long-term investment horizon, Aurelius Group is focused on the acquisition of corporate carve-outs and companies with operational improvement and growth potential, with longstanding investment and management expertise in various industries.
After closing the company will take the name Remi Claeys.
Terms of the transaction have not been disclosed.