We will continue to focus on our upstream business, developing our highly competitive portfolio of aluminium assets, prioritizing operational excellence and growth opportunities within alumina and primary metal production.
Hydro’s reporting structure
|Bauxite & Alumina
Hydro is a Fortune Global 500 supplier of aluminium and aluminium products. Based in Norway, we employ 22,000 people in more than 30 countries and have activities on all continents. Hydro is one of the world’s largest aluminium companies focused on growing profitably through operational excellence, leading technology and innovative solutions and attractive upstream projects. We are financially strong and intent on pursuing opportunities on a global basis through targeted international business development.
Rooted in a century of experience in renewable energy production, technology development and progressive partnerships, Hydro is committed to strengthening the viability of the customers and communities we serve.
During 2007, Qatar Petroleum and Hydro reached a final decision to proceed with the construction of the new Qatalum primary aluminium plant in Qatar. We also made good progress developing our alumina business during the year. The third expansion of our Alunorte alumina refinery in Brazil is ongoing and we signed a Memorandum of Understanding (MoU) with the Brazilian mining group Vale with the intention of building a new alumina refinery close to Alunorte. In June 2007, Hydro finalized the closure of the Søderberg line in Årdal concluding the rationalization program initiated in 2005.
Comprehensive rationalization programs have been executed during 2007 in Aluminium Products to improve the financial performance and align the cost structure with lower market demand.
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