HYDRO POLYBULK SOLD TO THRA PLAST CO.S.A
27 June 2001 - Hydro Aluminium

As part of this strategy Hydro Polybulk's activities have been defined as non-core. Hydro Polybulk is marketing flexible intermediate bulk containers (FIBC) and other blown and woven polypropylene and polyethylene products. Through an agreement with Hydro Packaging, Hydro Polybulk has been part of the global Portabulk System licensee network for several years, with active operations in the Scandinavian and Baltic countries. The company had a turnover of NOK 149 million in 2000 and has 8 employees in Norway and Sweden.

Norsk Hydro has signed an agreement with Thra Plast CO.S.A., a company in the Thraceplastic Group, a Greece-based company, whereby the business of Hydro Polybulk and Hydro Polybulk AB will be acquired by Thra Plast CO.S.A. Thra Plast's daughter-company Megabag has been a supplier of Portabulk bags to Hydro Polybulk for several years.

The new owner want to develop the business further under the new name Polybulk a.s. in Norway and Polybulk AB in Sweden. These two companies have also entered into a Portabulk licensing agreement with Hydro Packaging. All the employees have been offered a job in the new companies with the new ownership. The transaction has no significant accounting effects for Hydro.

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