18 MARCH 2013FoxBusiness
Aluminum price weighed by uncertain economy
Edited by : AL CIRCLE
1 min read
Norwegian aluminum producer Norsk Hydro ASA said on Friday that the current weakness and uncertainty in the world economy is weighing on the aluminum price, but underlying factors point to continued solid growth in demand.
CEO Svein Richard Brandtzaeg says: "Weakness and uncertainty in the world economy weighs on the aluminium price. When I express my belief in the future of aluminium, it's because the underlying factors point to continued solid growth in demand for aluminium."
"We are seeing through substantial improvement programs in all of our business areas and have taken important strategic actions that will make us more robust regardless of what the future brings - and will make us the aluminium industry's winner when demand catches up to production."
Shares closed Thursday at NOK25.54, valuing the company at NOK52.84 billion.
CEO Svein Richard Brandtzaeg says: "Weakness and uncertainty in the world economy weighs on the aluminium price. When I express my belief in the future of aluminium, it's because the underlying factors point to continued solid growth in demand for aluminium."
"We are seeing through substantial improvement programs in all of our business areas and have taken important strategic actions that will make us more robust regardless of what the future brings - and will make us the aluminium industry's winner when demand catches up to production."
Shares closed Thursday at NOK25.54, valuing the company at NOK52.84 billion.
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