Hydro to close five European extrusion plants, affecting 730 employees

Norsk Hydro plans to close five European extrusion plants in the UK, Germany, Italy, and the Netherlands by 2026. This consolidation aims to optimize its European footprint and strengthen competitiveness, affecting 730 employees across the sites. The affected plants include Cheltenham and Bedwas (UK), Lüdenscheid (Germany), Feltre (Italy), and Drunen (Netherlands). A formal consultation process with employee representatives will commence immediately.

The restructuring is estimated to cost NOK 1.9 bn, with NOK 460m in impairment charges and NOK 1.25 bn in provisions expected in Q4 2025. An additional NOK 50-100m will impact Adjusted EBITDA in Q4 2025. Despite the closures, Hydro remains committed to the European extrusion markets, assuring customers that service levels will be maintained, with products sourced from other Hydro locations.

Upon completion, Hydro's Extrusion Europe business unit will operate 28 extrusion plants and five recycling facilities, employing 7,000 individuals. The company anticipates run-rate improvements from the restructuring to exceed NOK 0.5 bn per year.