Norsk Hydro, a Norway-based global supplier of aluminum products, will acquire full ownership of aluminum extruder and fabricator Sapa. Hydro previously owned 50 percent of the company but last week agreed to buy out the other half, held by Norwegian consumer goods supplier and investment company Orkla.

The purchase, totaling $3.3 billion, is expected to close in the second half of 2017. Hydro and Orkla combined their aluminum extrusion assets to establish Sapa in 2013.

Sapa supplies facade systems, fenestration products and building profiles to the construction industry, in addition to a wide range of aluminum extrusion capabilities across various other sectors. Hydro also supplies aluminum products to many industries, including building and construction.

“Hydro is now confirming its position as the world’s leading integrated aluminum company, and the transaction reinforces our strategic direction ‘Better, Bigger and Greener,’ with a solid asset base, unique competencies and capabilities from mining to end-user products,” Hydro president Svein Richard Brandtzæg said in a statement. “Sapa will enable us to assume global leadership, establish a platform for growth, and provide responsible operations and sustainable solutions for the future low-carbon economy.”

Sapa operates in 40 countries, largely in North America and Europe. It has approximately 22,400 employees globally. Following the transaction, Hydro will have more than 35,000 employees.

“Sapa has successfully restructured its business and lifted profitability and is now well-positioned to continue its journey as part of Hydro, aiming for even higher value creation through targeting high-tech, high-competence value-add market segments,” Brandtzæg added.

According to Sapa’s 2016 financial report, the United States is its top customer, as the country accounted for nearly $2.4 billion of its $6.5 billion in revenues last year.

Hydro and Sapa said in their respective announcements on the purchase that “Union representatives from both companies have been involved in the acquisition process from the very start, making sure the voices of their members are heard.” Hydro’s board of directors said it will invite an employee representative of Sapa’s board to participate as an observer at closing of the transaction.

Completion of the transaction later in 2017 is pending approvals from competition authorities in Brazil, Canada, China, the European Union and Turkey.