HAW Supervisory Board decides on partial closure

(June 21, 2005) The Supervisory Board of the aluminium plant Hamburger Aluminium-Werk GmbH, where Hydro holds a 33.33% share, today has decided to partially cease operations by the end of 2005. Affected are the anode fabrication and elecytrolysis.

However, the owners have committed themselves a recent offer to start new talks on future supply, expressed by HAW´s current power supplier HEW, a subsidiary to Vattenfall Europe.

If these talks lead to a substantial change to the basic economical frame conditions for HAW, the closure decision will be taken back. HAW management is advised to continue their efforts toward achieving an acceptable power price.

HAW has a workforce of 550. Approximately 450 are working for the anode fabrication and in the most energy-intensive part of the plant, the electrolysis, where liquid aluminium is produced. The HAW casthouse with 100 employees is not part of today´s decision.