Hydro’s fully owned subsidiary Hycast has signed a contract with Innovation Group to supply state-of-the-art casthouse technology.
The supply contract comprises casthouse technology (Low Pressure Casting – LPC) for extrusion ingots, including control system, launder system, inline melt treatment systems (Siphon Inert Reactor – SIR) and other equipment. In total, four new casting lines will be delivered to the customer. The contract has an estimated value of around NOK200m (€19.6m).
One of the biggest supply contracts for casthouse technology in Hycast’s history
“We are very happy to have landed one of the biggest contracts in Hycast’s over thirty-year history,” says managing director Ola Ulvund. “Large parts of our Hycast organization have been working on this deal over a long period of time, including the newly opened Hycast China branch. The combination of a solid home office and feet on the ground, has proven to be a key factor during the global pandemic, where ability to travel and meet in person have been very limited. The deal proves Hycast’s ability to deliver competitive and technologically advanced solutions the market wants.”
Innovation Group is the largest producer of extrusion ingots in China, with a combined capacity of around 5.1m tonnes annually. The deliveries from Hycast to Innovation Group is scheduled to commence in the third quarter 2022 and be completed by end-2022.