Norwegian energy and metal group Norsk Hydro is hoping to complete the integration of Germany's VAW Aluminium in the next few weeks, and hopes to sell its packaging activities this year.
E.ON sold Germany's largest aluminium producer to the company at the start of the year for €3.1 billion. The deal put Norsk Hydro at the top of the European aluminium industry. The sale of the packaging division would affect 800 jobs at two domestic locations.
VAW will be transferring to Norwegian ownership having just posted a record profit. Alongside turnover of €3.93 billion, up six per cent, it showed a 16 per cent rise in pre-tax operating profit to €359m.