Hydro locks in renewable power supply through 2040 with Statkraft to drive low-carbon aluminium growth in Norway
Hydro Energi and Statkraft have signed a long-term power purchase agreement (PPA) securing an annual electricity supply of 876 GWh from 2031 to 2040. The agreement will provide Hydro with around 8.8 TWh of power during the contract period, with deliveries planned in Norway’s electricity price area...
Bell Bay Aluminium conundrum: Can Tasmania close the $60m power gap?
The future of Bell Bay Aluminium smelter in Tasmania remains dependent on the outcome of negotiations over its electricity supply agreement. Federal Industry Minister of Australia Tim Ayres has stopped short of committing federal funding similar to the support extended to the Tomago aluminium...
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Hydro agrees to sell Taiwan remelter
Hydro has entered into a binding agreement to sell its aluminium remelt plant in Taiwan to Ting Sin Metal Co. Ltd. The transaction is expected to close during October. Hydro invested in the remelt plant in March 2008, and the company is a fully owned subsidiary. Ting Sin Metal Co. Ltd., a company...
Norsk Hydro to highlight recycling possibilities of aluminium at "Aluminium 2012"
More than 950 exhibitors from 50 nations are taking part and around 25,000 visitors are expected at the Aluminium 2012 World Trade Fair & Conference. Hydro President and CEO Svein Richard Brandtzæg and senior executives Hilde M. Aasheim, Hans-Joachim Kock and Oliver Bell will all be present to meet...
Hydro again on Dow Jones Sustainability World Index
The DJSI World is regarded by many as the world's most important sustainability index and an important guide for investors and other stakeholders for assessing companies' non-financial performance. Hydro was named a component of the Dow Jones Sustainability World Index for 2012-2013 with a slight...
Hydro changes raw material sourcing for German rolling mills
Norwegian aluminium company Norsk Hydro ASA has decided to increase in-house primary metal sourcing, replacing less cost-efficient remelting of cold metal as a source for its Neuss-Grevenbroich rolling mills. "The change in raw material mix will realize positive system effects for Hydro's German...
Hydro to continue operation in Neuss aluminium plant
Norwegian group Norsk Hydro has ended plans to close its primary aluminium production plant in Neuss in Germany and plans to raise production at the plant, a newspaper reported on Tuesday. The company's German unit Hydro Aluminium declined comment on the report but said a statement would be made...
Hydro to introduce solar-inspired edition of its extrusion-design manual
Hydro, a global supplier of aluminium and aluminium products based in Norway, will introduce a solar-inspired edition of its popular extrusion-design manual at Solar Power International 2012 on 10-13 September at the Orange County Convention Centre (booth 1063) in Orlando, Florida (US). “It is a...
Hydro's alumina refinery Alunorte exempted from ICMS tax on fuel oil
The State of Pará in Brazil has decided that, effective from September 10, 2012, ICMS tax will again be collected from the fuel oil distributors, exempting Hydro's alumina refinery Alunorte from the ICMS tax. A change took place March 1, 2012, changing the collection point for ICMS tax from...
Hydro to shut its casthouse in Ardal
Hydro is stopping the use of cold metal as the base for aluminum products at its plant in Ardal, Norway, while continuing with finished products based on primary production. One of the two casthouses in Ardal will be closed. “Ardal’s two casthouses that produce sheet ingots and foundry alloys (PFA)...
Aluminum company shares expected to climb
Aluminum company shares are poised to return more than the metal they make as financial contracts mask a glut by limiting supplies and raising costs for buyers. United Co. Rusal, the biggest producer, will climb 29 percent in Hong Kong trading and Oslo-based Norsk Hydro ASA, 27 percent, the average...
Hydro to Shut Down Loss-Making Remelting Aluminum Capacity
Norsk Hydro ASA (NHY), Europe’s third- largest aluminum maker, is cutting capacity at plants where it uses third-party metal to make orders for the auto and building industries after suffering losses. The company will shut 35,000 metric tons of remelting capacity at its Sunndal plant in Norway and...
Norsk Hydro sells Portuguese extrusion plant
Norwegian aluminium firm Norsk Hydro has agreed to sell its Portalex extrusion plant in Cacem, Portugal, to Germany's Bavaria Industriekapital AG for an undisclosed sum, the company said on Wednesday. The transaction is expected to close on Aug. 31, Hydro said, adding that the plant, which handles...
Hydro to close Monett extrusion plant, add operations in Phoenix
Hydro is making adjustments to the structure of its aluminum extrusion network in the United States. The company has today announced that it will cease extrusion operations at its facility in Missouri, and that it will bring new fabrication activities to its plant in Arizona. The Monett-based...
Norsk Hydro to sell its Portuguese extrusion plant
Norwegian aluminium firm Norsk Hydro has agreed to sell its Portalex extrusion plant in Cacem, Portugal, to Germany's Bavaria Industriekapital AG for an undisclosed sum, the company said on Wednesday. The transaction is expected to close on Aug. 31, Hydro said, adding that the plant, which handles...
Metals melt in heat of financial crisis
Industrial metals such as copper, Aluminium and nickel are sensitive to changes in the global economic cycle, because of their uses in construction and manufacturing. So, as expectations for economic growth in Europe, China and the US have been scaled down, prices have fallen to the lowest in...
Norsk Hydro expects quarter three to be "very weak"
Norwegian aluminium producer Norsk Hydro sees further gloom on the aluminium market with weak results expected in the third quarter, its top executive said on Tuesday. "With the LME price we see today, and the uncertainty in the macro economy going forward, we expect that the third quarter will be...
Hydro's 2012 second quarter earning falls due to weak market
Hydro's underlying earnings before financial items and tax amounted to NOK 549 million in the second quarter, compared with NOK 557 million in the previous quarter. As Hydro reported, the weak quarterly results reflect low aluminium prices and a challenging macro-economic environment, while...
Norsk Hydro to cut costs to cope with dropping profits
Aluminium producer Norsk Hydro trimmed its market forecast for this year due to weak European demand and said it was working on a cost cutting plan as it reported a smaller-than-expected drop in second-quarter core earnings. "We are now finalising programs across Hydro which in total will yield...
4,000 jobs on offer for Hydro's Kurri Kurri workers
Hydro Aluminium is ramping-up efforts to find jobs for employees at its Kurri Kurri aluminium smelter with 69 companies holding an employment expo on the site tomorrow. The smelter will close in the coming months putting about 350 workers out of a job. Hydro's Human Resources spokesman Trevor Hall...
