Orkla ASA and Norsk Hydro ASA has agreed to merge Sapa and Hydro Profile Extruded Products and Building Systems Operations.

The new company will be called Sapa is a joint venture in which Orkla and Hydro owns 50% each. Completion of the transaction is expected to take place in the first half of 2013, following approvals from relevant competition authorities. Until this is done, the two operations continue as independent companies.

The new company forms the world's leading aluminium solutions provider with unique capabilities for technical support, product development and logistics.

We will continue to keep you informed of developments.