Published by Global Banking & Finance Review®
Posted on November 26, 2025
1 min readLast updated: January 20, 2026
Add as preferred source on GoogleNorway's Hydro will close five European extrusion plants by 2026, affecting 730 jobs and saving 500 million crowns annually.
COPENHAGEN (Reuters) -Norwegian aluminium producer Hydro said on Wednesday it would close five extrusion plants in Europe by 2026.
"The reality in the European market requires decisive action. Decisions like this never come easy, but they are necessary," CEO Eivind Kallevik said in a statement.
The closure would affect around 730 employees.
Hydro said it expects annual run rate savings exceeding 500 million Norwegian crowns ($48.93 million). Restructuring costs are estimated at 1.9 billion crowns, with impairment charges and provisions expected to impact the company in the fourth quarter of this year, it added.
Hydro will retain 28 extrusion plants and five recycling facilities under its European extrusions business unit, employing about 7,000 people.
($1 = 10.2196 Norwegian crowns)
(Reporting by Stine Jacobsen, editing by Terje Solsvik and Louise Rasmussen)
Corporate strategy refers to the overall plan and direction that a company takes to achieve its goals, including decisions about resource allocation, business operations, and competitive positioning.
The aluminium sector encompasses the production, processing, and distribution of aluminium, a lightweight metal used in various industries, including construction, automotive, and packaging.
Restructuring costs are expenses incurred by a company when it reorganizes its operations, which may include layoffs, facility closures, and other changes aimed at improving efficiency and profitability.
Sustainability in business refers to practices that promote environmental stewardship, social responsibility, and economic viability, ensuring that companies operate in a way that meets present needs without compromising future generations.
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