Norsk Hydro, a Norway-based energy and metals company, has agreed to sell its automotive castings business to Nemak group, part of Mexican conglomerate Alfa, for $546 million.

The agreement for Nemark’s purchase of Norsk’s aluminum castings unit includes its European plants in Germany, Austria, Hungary and Sweden, which employ a total of 2,200 people.

In a deal unrelated to Alfa, Norsk Hydro has also revealed it will sell its 49.99% stake in Castech, a Mexican castings plant, to its joint venture partner Grupo Industrial Saltillo.

Norsk Hydro said that both agreements, which are subject to regulatory approval, will net the company a combined total of $143 million.