Ensuring responsible conduct in relation to society at large is an important element in restructuring processes. The financial crisis put Hydro's organization under severe strain, and our long experience in responsible restructuring was severely tested.
On February 28, 2011, we took over the majority of Vale's aluminium business in Brazil. Combining Vale Aluminium with Hydro will result in a stronger company, fully integrated into bauxite, with a long alumina position. We have become majority owner of one of the largest bauxite mines in the world, the largest alumina refinery in the world and have substantial expansion opportunities in this critical part of the value chain. It has also given us 3,850 new colleagues in Brazil - or about 6,500 including apprentices and employees on long-term contracts. Germany and Brazil are now the countries where we have most employees, followed by Norway. The transaction has also given us substantial presence in a geographical area with exposed societies and vulnerable eco-systems. We are working on the integration of the new organization while learning from their experience, and have just entered into dialog with our new neighbors.
Completing construction of the new aluminium plant Qatalum in Qatar was a core activity in 2010. The plant's first cells were put into production late in 2009. Completion of the project, however, was delayed following a power failure in August 2010 and due to technical problems related to the water-cooling system for steam turbines under the power plant contract. Full production is expected from June 2011.
