2009

Qatalum’s first metal – “A great achievement”

December 20 – the first cell in Qatalum started production of primary aluminium.

Hydro aluminium on award-winning building

The Tornado Tower in Doha, Qatar, which features aluminium building systems from Hydro's brand Wicona, has won a major international architectural award,

Help program for employees wins European award

Hydro's extrusion plant in Austria has won one of the top prizes in the European Aluminium Association's safety solution competition.

Hydro continues cooperation with Amnesty International Norway

Hydro has had a cooperation agreement with Amnesty International Norway since 2002. Amnesty representatives recently met with President and CEO Svein Richard Brandtzæg, who renewed the agreement.

Hydro divests rolling mill in Spain

Hydro has entered into an agreement to divest its aluminium rolling mill in Irurtzun, Spain, to the German industrial holding company Bavaria Industriekapital AG.

Capital Markets Day 2009: Hydro steps up upstream repositioning efforts

Hydro is intensifying efforts to improve its competitive position by launching new cost-reduction measures, following a year of demanding markets and decisive corrective actions. Hydro’s improvement efforts have resulted in positive downstream earnings, while upstream activities remain challenged by the weak aluminium market and a strong Norwegian krone.

Hydro sells Cedar Tools to WEFA Group

Hydro has concluded the sale of the assets and technology of its aluminium extrusion diemaking unit in Michigan to WEFA Group, which will take over the operations from December 1.

Hydro opens recycling center at Alunorf plant

Hydro, Europe's leading aluminium company, today opened a new 50,000-tonne remelting facility at the Alunorf plant in Neuss, Germany. This brings Hydro's total recycling capacity in Germany to 150,000 tonnes of high-quality aluminium and helps to reduce carbon emissions.

Third quarter 2009: Results reflect continued weak markets, volumes rise on restocking

Hydro had an underlying loss before financial items and tax of NOK 793 million in the third quarter, compared with a loss of NOK 618 million in the previous quarter, reflecting the frail global economy, low aluminium prices and a weakening US dollar. Downstream results continued to improve, supported by higher volumes and cost saving measures.

Hydro divests automotive structures activities

Norsk Hydro ASA has today entered into an agreement to divest its automotive structures business to Benteler Automobiltechnik GmbH, the automotive division of the large German industrial enterprise Benteler Group with headquarters in Paderborn, Germany. The agreement represents a solid, long-term industrial solution for Hydro`s automotive structures activities, and is in line with Hydro’s strategy to focus its extruded activities on profiles solutions and building systems.

New CEO in Qatalum

Jan Arve Haugan, most recently head of Hydro’s international aluminium smelter portfolio, will become the new CEO of Qatalum in Qatar when Truls Gautesen steps down after four years in the project to build one of the world’s most cost-efficient aluminium plants.

Grete Faremo leaving Hydro board

Grete Faremo, who was named Minister of Defence in the Norwegian government on Tuesday, will resign from the Board of Directors of Norsk Hydro ASA with immediate effect.

Hydro steps up aluminium recycling

Roland Scharf-Bergmann joins Hydro to lead and support its common activities in aluminium recycling, an area in which Hydro is evaluating further investments.

Hydro raises prices for standard rolled products to general engineering

From Norway to Qatar

On Saturday, 24-year-old Fredrik Bomstad embarked on a journey from his native Norway for a six-month posting to the Qatalum project – the largest aluminium plant ever built in one phase. In fact, he will be helping with the final stages of getting the plant into production.

Hydro joins aluminium research in Japan

Hydro and several of Norway’s leading research organizations have agreed to collaborate with a Japanese university and technology institute in investigating some of the most demanding challenges related to aluminium alloys.

Qatar minister observes Qatalum progress

Qatar's deputy premier and minister of Energy and Industry, HE Abdullah Bin Hamad Al Attiyah, witnessed the progress of the Qatalum aluminium plant first-hand during a visit to the site on Sunday. Not only is the construction more than 90 percent complete, about 90 percent of the employees are now in place, preparing for the start-up of the plant.

New Hydro investment in Ascent Solar

Hydro has entered into a securities purchase agreement with U.S. solar energy company Ascent Solar Technologies, Inc. Hydro's investment in common stock of Ascent Solar will be USD 5 million.

Qatalum construction work 90 percent finished

Most elements forming Qatalum, the large aluminium plant being constructed in Qatar, are now in place.

Saving water – and money – at the Qatalum Village

Saving water is a big deal at the Qatalum Village in Qatar. The Qatalum aluminium project is using the most advanced water management practices, reflecting its commitment to the environment. And the initiatives have yielded considerable cost savings.

‘Low-CO2’ talk on sustainable buildings

Hydro executive Birgitte Holter saved tonnes of climate emissions with a “low-CO2 presentation” to a sustainable building conference in Norway this week.

Farmand prize for best annual report – once again

Hydro was once more honored for its annual report with Norway’s traditional and prestigious “Farmand Prize.” Hydro won the prize Thursday for the third year running in the class for printed reports from listed companies.

Aluminium in front at IAA 2009

Most of the world's leading automobile manufacturers are unveiling their newest models at the International Motor Show 2009 in Frankfurt. Hydro is right in front, delivering lightweight aluminium components and systems to many of these models.

Solar power getting its place in the sun

A large-scale solar energy farm that uses aluminium structures from Hydro is featured in the September issue of National Geographic magazine.

Stockman Prize goes to Hydro for fourth time

For the fourth time, Hydro has claimed the prestigious Stockman Prize from the Norwegian Society of Financial Analysts. The annual prize is awarded to stocklisted companies that have provided the best information to the financial markets and produced the best annual report.

White paper on aluminium extrusions for solar energy structures

Hydro has issued a white paper examining aluminium’s emerging role in the solar energy area, especially the use of aluminium extrusions in concentrated solar power structures, marketed by the company's Extrusion Americas sector.

Fortun power station celebrates 50th anniversary

Hydro is celebrating the 50th anniversary of the Skagen hydropower station at Fortun, Norway, which was central to the expansion of aluminium production at Årdal in the early 1960s.

On top of the Dow Jones Sustainability Indexes

Hydro scores highest among aluminium companies in this year’s Dow Jones Sustainability Indexes (DJSI) ranking – for the fourth year in a row.

Great interest in 'The Great, Green Building Debate'

Tickets to 'The Great, Green Building Debate' in Trondheim Wednesday were as popular as a big-name rock concert. Hydro’s president and CEO, Svein Richard Brandtzæg talked about energy use in buildings to en enthralled group of students from the Norwegian University of Science and Technology (NTNU).

Audi again chooses Hydro's aluminium structures

Hydro has been asked to deliver the front crash management systems for one of Audi's future high-volume models, underlining the company's position as the leading global supplier of lightweight crash management components.

Qatalum construction workers enjoy hi-tech entertainment

After a hard day’s work building one of the world’s biggest aluminium plants, employees in the Qatalum construction village in Qatar can enjoy some of the best hi-tech entertainment available.

Issue of commercial paper

Norsk Hydro ASA has issued a NOK 1 billion commercial paper with maturity February 15, 2010, coupon 2.37%, replacing the commercial paper NO0010491194 maturing on August 13, 2009.

Hydro lands Bohn order for aluminium tubing

Bohn Mexico, one of the best-known suppliers of refrigeration components in North America, has elected to replace its copper tubes with aluminium tubing from Hydro. The substitution of materials will affect about one-third of Bohn's production of evaporators in the heating, ventilation, air-conditioning and refrigeration market.

Hydro to supply extruded aluminium frames for world's first hybrid solar facility

Hydro in North America has signed an agreement with Florida Power & Light (FPL) to supply custom aluminium extrusions for the first hybrid solar/fossil fuel energy-generating facility in the world.

Second quarter 2009: Solid cash flow and cost savings, markets remain weak

Hydro had an underlying loss before financial items of NOK 618 million in the second quarter, compared with a NOK 493 million loss in the first quarter, as the weak global economy continued to weigh on historically low aluminium markets. Results in downstream operations improved due to seasonally stronger demand and swift adjustments made early in the downturn.

Hydro presents second quarter results

Hydro's second quarter results 2009 will be released at 07:30 CET (01:30 AM EST, 06:30 UK time), on Wednesday July 22, 2009. The quarterly report and presentation slides will be made available on the company's website at the same time.

Hydro increases range of energy-efficient building systems

Hydro has added key competence to support its ambition to help with the development of more energy-efficient buildings, following the acquisition of the business of the French company Solarys Système.

Capital reduction

Norsk Hydro ASA has on July 13, 2009 completed a capital reduction by cancellation of 7,846,738 shares at par value of NOK 1.098 per share, which includes 3,438,738 shares redeemed from the Norwegian State, represented by the Ministry of Trade and Industry. This is in accordance with the resolution passed by the Annual General Meeting on May 5, 2009 related to the share buyback authorization granted by the Annual General Meeting on May 6, 2008.

Hydro raises price for rolled products

Hydro is increasing its basic fabricating price for all uncoated aluminium rolled products in the general engineering segment. The price increase will take immediate effect for all deliveries not already contractually agreed and for all alloys and quality grades.

Hydro helps rejuvenate Rjukan river

"By building thresholds in the river we have given the Måna watercourse a beautiful water surface without using unnecessary water resources that could have been used for power production. Hence we have found a solution that is both energy-efficient and good for the environment at Rjukan," says Hydro's Pål Thorud, head of the Telemark power stations in Norway.

New reporting structure from Q2

As of second quarter 2009 Hydro’s reporting structure will be adjusted to reflect the changes made in Hydro’s organization and corporate management during first half 2009. The company has prepared a preliminary overview of historical financial information for the new reporting segments for the period first quarter 2007 to first quarter 2009. The presentation is attached.

New website praises 'sustainable aluminium'

The International Aluminium Institute has launched a website that sings, scientifically, about aluminium's sustainability. Hydro headed the website project.

Hydro opens energy-neutral building in Germany

Hydro, Europe’s leading aluminium company and a global supplier of advanced building systems, opened an energy-neutral building in Ulm in southern Germany on Tuesday, showcasing its latest technologies for more energy-efficient buildings.

Building-integrated photovoltaics point to future

Hydro's new test center for aluminum building solutions, inaugurated in Germany on Tuesday, is a true showcase of building-integrated photovoltaic systems – with eco-efficiency the result.

New test center for intelligent building solutions

The new "Wicona Test Center" – one of the most advanced of its kind – opens a window to an energy-efficient future for buildings. Centrally localized in Germany, the center is a showcase for Hydro's advanced building systems of aluminium.

Water build-up caused Svandalsflona accident

Hydro’s internal investigation of the accident on May 9 at the Svandalsflona power station in western Norway has concluded that the most likely reason for the accident was that water that had built up behind a mass of rock in a shaft inside the facility gave way, flooding the power station and causing two deaths.

Hydro share to start trading on OTCQX International

As of today the American Depositary Receipts (ADRs) of the Norwegian aluminium and energy company Norsk Hydro ASA will be trading on the OTCQX International in the U.S.

Close relative of Executive Vice President sells shares

A close relative of Executive Vice President Johnny Undeli has on June 10, 2009 sold 2,000 shares in Hydro at NOK 37.35. Jonny Undeli’s new holding, including relatives, is 980.

Former colleagues keep in touch on web

Employees who lost their jobs when Hydro closed their engine casting plant in Leeds five years ago keep track of each other – on a website dedicated to the plant.

Økokrim will not investigate Libya case

The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has decided not to open an investigation of the so-called Libya case.

Aluminium use at all-time high

More aluminium than ever before is being used in North America-produced passenger cars and trucks. The light metal accounts for 8.6 percent of average vehicle curb weight this year, compared to 2 percent in 1970 and 5.1 percent in 1990.

Hydro executive to chair UN building initiative

Hydro's Birgitte Holter has been selected to chair the United Nations Environment Program's Sustainable Buildings and Climate change Initiative. "We want to put buildings high on the post-Kyoto negotiations agenda," she says.

‘Our thoughts are with the families’

“Our thoughts are first and foremost with the families,” says Ola Sæter, executive vice president responsible for the Energy business area, following the fatal cave-in Saturday at Hydro’s power plant in western Norway. Two persons lost their lives in the accident.

Cave-in at Hydro power plant claims two lives

Two subcontractor employees were killed on Saturday in a cave-in during work on a tunnel at Hydro's hydroelectric power plant in western Norway.

Heavy rainfall causes Alunorte red mud spill

Following one of the worst rainfalls on record on April 27, Hydro’s part-owned Alunorte alumina refinery in Brazil experienced an overflow of one of its rainwater drainage channels.

Annual General Meeting held

The Annual General Meeting of Norsk Hydro ASA today adopted all the items as proposed on the agenda, including the proposal to pay no dividend for 2008.

Exploring Angola hydropower and aluminium smelter opportunity

Hydro and the Government of Angola signed a Memorandum of Understanding on Tuesday to explore the feasibility of an integrated project for hydropower and aluminium production.

View webcast of Hydro's annual general meeting

This year's annual general meeting in Norsk Hydro ASA is being held this Tuesday afternoon. If you cannot attend in person, you can follow a webcast of the proceedings on the internet.

GM, Chrysler announcements sting Hydro

Hydro does not rule out further reductions in its production of extruded aluminium automotive components and systems as result of the announcements that automakers General Motors and Chrysler are suspending vehicle production at most of their assembly plants in North America.

Hydro shows building-integrated photovoltaics in aluminium systems

Hydro's Technal brand is bringing new product concepts to the Spanish building systems market, and moving forward in the development of building-integrated photovoltaic solutions that can conserve energy and also produce energy.

Economic downturn leads to first-quarter losses

Hydro had an underlying loss before financial items of NOK 493 million in the first quarter of 2009, down from an underlying EBIT of NOK 868 million in the previous quarter. The results reflect the deepening global economic downturn, with historically low aluminium prices and a further fall in already weak downstream markets.

Sale of shares to employees

Norsk Hydro ASA`s employees have purchased shares under a general arrangement offered to the employees of Norsk Hydro ASA each year.

Bentley chooses coated aluminium tube from Hydro for flex-fuel vehicle

The compatibility of aluminium with alternative fuels is an important topic for automotive applications. Hydro has already passed one test: It is delivering coated aluminium tubes for Bentley's dazzling new flexible-fuel vehicle.

A century on the Oslo stock exchange

It is 100 years today since Hydro was first listed on the stock exchange. Shares in the company were first traded on the stock exchange in Kristiania, as Oslo was then called, on April 16, 1909. Later that year the share was also listed on the stock exchanges of Brussels, Geneva and Paris.

Toyota gives top honor to Hydro innovation

Toyota has just presented its Global Technology & Development Award to Hydro – the No. 1 supplier of aluminium bumper beams.

Hydro to close precision tubing plant in Michigan

Hydro has decided to consolidate its aluminium precision tubing operations in North America as result of the extremely challenging situation in the automotive industry, and will consequently close its aluminium tubing plant in Michigan.

Primary insiders purchase shares

Primary insiders in Norsk Hydro ASA have subscribed for shares under a general arrangement offered to the employees of Hydro each year. All employees in Norway are being offered to purchase shares valued at NOK 10,000 with a 25 percent discount. The offer consists of 411 shares at NOK 18.23 per share.

Hydro curtails aluminium production at Sunndal

Hydro has decided to temporary close the oldest production line at its Sunndal plant, representing an annual production of about 100,000 tonnes. The closure is a result of the demanding market situation for aluminium.

Ascent Solar opens new plant

Ascent Solar Technologies, which is 35-percent owned by Hydro, opened a new production facility and headquarters near Denver, Colorado, in the U.S. on March 24.

See us at Aluminium Dubai 2009!

Visit us at Stand H901 at the Aluminium Dubai 2009 exhibition from March 29-31, where we will begin marketing aluminium from Qatalum, our new state-of-the-art smelter in Qatar.

Hydro delists from Euronext Paris

March 24 will be the last trading day for the Hydro share on Euronext Paris. Hydro was originally listed on the Paris stock exchange in 1909.

Notice of Annual General Meeting 2009

Notice is hereby given that the Annual General Meeting of Norsk Hydro ASA will be held at the company’s head office at Vækerø, Drammensveien 260, 0283 Oslo on Tuesday, 5 May 2009 at 5 p.m.

Annual reporting 2008: Up to the challenge

"Record sales and historic high prices for aluminium gave way to a free fall in demand and an aluminium price at the lowest point in decades. We experience how quickly and how deeply everything can change – and how vital it is to act upon what is happening, not what you hope will happen,” Hydro President and CEO Eivind Reiten and Executive Vice President and incoming CEO Svein Richard Brandtzæg say in the company’s annual reporting, published on Hydro’s internet site www.hydro.com on Friday.

Temporary production shutdown at Alpart

Alumina Partners of Jamaica (Alpart) has announced plans to temporarily shut down production from May 15 due to the unprecedented fall in global aluminium markets and corresponding drop in alumina demand.

Last day for Søderberg technology in Hydro

On Friday, March 13, at 09.01 am, the power in the Søderberg potroom at the aluminium plant at Karmøy in Norway was switched off. This marks the end of production in the very last electrolytic cell in Hydro to use the old Søderberg technology.

First cell in place at Qatalum

Yet another milestone was achieved on the Qatalum project recently, when the very first electrolytic cell was placed in position. Four cells are now in place and the potlining process has begun.

Hydro participates in NorSun capital increase

Hydro is injecting NOK 92 million to a capital increase in the solar energy company NorSun. All the biggest shareholders are contributing a total of NOK 500 million to the issue. Hydro is maintaining its 18.4 percent ownership interest.

Rostrup new CFO in Hydro, Sæter new Head of Energy

Hydro’s head of Energy, Jørgen C. Arentz Rostrup, will take over as the company’s Chief Financial Officer, effective May 1. Rostrup, 43, will continue as a member of the company’s Corporate Management Board and report to Svein Richard Brandtzæg, who takes over as Hydro President and CEO on March 30.

Hydro signs EUR 750 million revolving credit facility

On March 6, 2009, Norsk Hydro ASA signed a EUR 750,000,000 syndicated 3-year revolving credit facility. The facility is for general corporate purposes.

Hydro aims to cut 250-300 positions, reduce costs by NOK 700-800 million

As previously announced, Norsk Hydro ASA has initiated a review of staff and support functions with an ambition to be among the best of comparable companies, both in terms of cost and dimension of staff functions. Hydro’s ambition is to reduce annual staff- and administration costs by approximately NOK 700-800 million compared to the 2008 level.

Hydro adjusts to slower building market

Although activity in the building industry in Europe remains relatively stable, in the midst of the global economic crisis, Hydro has made adjustments in its aluminium building systems operations that will result in annualized cost savings of more than EUR 5 million.

Results fall on write-downs, weak markets

Hydro's underlying EBIT was NOK 868 million in the fourth quarter, including inventory write-downs of about NOK 700 million. Underlying EBIT amounted to NOK 1,490 million in the third quarter and 1,699 million in the fourth quarter of 2007. Hydro's results for the quarter reflect the ongoing financial crisis, which has led to a dramatic drop in aluminium prices as a result of a sharp fall in global demand.

Technology is our edge

Hydro will be present at the TMS 2009 exhibition in San Francisco to highlight some of our most innovative advances in aluminium materials and processes.

Hydro continues production curtailment at Neuss

Hydro has decided to continue the production curtailment process at its primary aluminium plant in Neuss, Germany, due to weak market conditions and high energy costs for the smelter.

Issue of commercial paper

Norsk Hydro ASA has on February 11 issued a NOK 1 billion commercial paper with maturity August 13, 2009, coupon 4.07%. Arranger is DnB NOR Markets.

Further production curtailment at Søral

Sør-Norge Aluminium AS (Søral), owned 49.9 percent by Hydro, will reduce its aluminium production by another 25 percent, resulting in a total reduction of 50 percent at the smelter at Husnes, Norway.

Further reductions at Neuss smelter likely

Further production curtailment could be initiated shortly at Hydro’s primary aluminium plant in Neuss, Germany. The plant, with a production capacity of 230,000 tonnes, could be mothballed if the competitive situation does not improve significantly.

Kjetil Ebbesberg to head Metal Markets in Hydro

Kjetil Ebbesberg will take on the position as executive vice president for the new Metal Markets business area in Norwegian aluminium and energy company Norsk Hydro ASA, with responsibility for metal sales, recycling, remelting and trading.

Opening new windows in Milano - in aluminium

Hydro is spending four days in Milano with thousands of building industry professionals, to highlight our strong position as a provider of aluminium solutions and as an integral partner in the creation of excellent places and spaces.

Fatality at Qatalum project

A 27-year-old Nepali national died in an accident at the Qatalum building site in Qatar early on February 1.

Drop printed version – get Hydro’s annual report electronically

Hydro’s Investor Relations unit is encouraging the company’s many thousand shareholders in Norway to register in order to obtain Hydro’s extensive annual report electronically instead of being sent a printed version – thus sparing the environment and saving costs.

Impairments affect Hydro’s fourth quarter results

Norsk Hydro ASA will write down the value of certain fixed assets and inventories by approximately NOK 3.5 billion with effect for its fourth quarter results. The impairments are a result of deteriorating market conditions and high input costs. Hydro continues to implement significant corrective measures to meet the unprecedented market situation with reduced production, lower investments and major cost improvement initiatives.

Hydro changes structure and extends corporate management board

Norsk Hydro ASA is extending its corporate management board by the addition of two members, as part of a reorganization designed to secure a more concentrated focus on operations and markets. The changes will come into effect from March 30 2009, when Svein Richard Brandtzæg takes over as President and CEO from Eivind Reiten.

High gear recruiting for Qatalum

Recruiting in the ramp-up to first metal at the Qatalum aluminium plant in Qatar is going full speed ahead.

Hydro reduces primary aluminium production in Neuss by 13 percent

Hydro has decided to reduce production at its primary aluminium plant in Neuss, Germany, by 30,000 tonnes by the end of January.

Hydro to establish research center in Qatar

Hydro will establish a research and training center in Qatar, called the Hydro Technology Center. The center will be located at the Qatar Science & Technology Park in Doha, and is scheduled to open this spring. An agreement between Hydro and Qatar Science & Technology Park was signed on Wednesday.

Alpart announces reduction in production

Alumina Partners of Jamaica (Alpart) has announced plans to reduce its production volume by 50 percent from an annual 1,650,000 tonnes, starting January 15.

Svein Richard Brandtzæg new chief executive of Hydro

Svein Richard Brandtzæg has been named chief executive of Norsk Hydro ASA, following the resignation of Eivind Reiten, effective March 30, 2009. Reiten has informed the Board of Directors that he wishes to step down after nearly eight years heading the company.

Wicona ready for BAU 2009

Organizers call it the most important event of the European building industry. This is BAU 2009 week - and Wicona is in Munich with the latest in energy-saving aluminium building systems products.