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Norsk Hydro: submits bid for Icelandic aluminium plant

(CercleFinance.com) - Norsk Hydro has made a binding offer to acquire Rio Tinto's Icelandic aluminium plant "ISAL", the Norwegian aluminium company said on Monday.

The "ISAL" smelter produces liquid metal and extrusion ingot for the European building, construction and transportation sectors, Hydro said.

The offer, which also includes a 53% share in Dutch anode facility Aluchemie and 50% of Swedish aluminium fluoride plant Alufluor, is valued at 345 million dollars, subject to post-closing adjustments.

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