Smelting plant in Tyssedal sold for 3 billion kroner

Tizir Titanium & IronPhoto: Tizir Titanium & Iron

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The Tizir Titanium & Iron smelting plant in Tyssedal, in Odda municipality, has been sold by the current French owner Eramet to American Tronox.

The sales sum is $300 million, or the equivalent of 3 billion Norwegian kroner at today’s rate, reports E24.

Thus, the company in Tyssedal gets American owners. Any changes to the business will probably not be known until the sale is completed, an estimated one year from now. For the employees at the plant, the news came as a surprise.

“This came very suddenly to us. I would like to be able to respond more about what this will mean, but it is still very early in the process,” says Ørjan Andersson, union representative in the Electrochemical Labor Association in Industrial Energy.

More than 200 employees work at the plant. Andersson does not believe the acquisition will mean downsizing.

“When they spend so much money on an acquisition, we believe it is to extract as much expertise as possible and further develop our company. We have no reason to believe otherwise at this time,” he says.

© NTB Scanpix / #Norway Today

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