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The plant has an annual production capacity of 230,000 tonnes. A controlled reduction in production, making the main parts of the plant ready for mothballing, will take approximately two months. The Neuss smelter has already reduced production by 30,000 tonnes per year.

The supervisory board of Hydro Aluminium Deutschland GmbH decided Wednesday to further reduce primary aluminium production at Neuss toward a full mothballing of electrolysis, unless there is a fundamental improvement in relevant frame conditions.

The fabrication of anodes will be reduced accordingly, while the plant’s casthouse will continue remelt operations, producing sheet ingots to serve nearby customers.

“We have already cut high-cost production in Norway. The weak market situation requires us to take further actions to reduce losses. The Neuss smelter is at the very high end of the cost curve, mainly due to the German power cost level,” says Hilde Merete Aasheim, executive vice president of Hydro’s Aluminium Metal business area.     

The plant has 650 permanent employees. Management is in dialogue with the local works council in order to find solutions for the employees affected.

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Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management’s plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro’s markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by “expected”, “scheduled”, “targeted”, “planned”, “proposed”, “intended” or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty.  Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized.  Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro’s key markets and competition; and legislative, regulatory and political factors.

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