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Norsk Hydro's new CEO takes the helm pledging deeper cost cuts

By: Bloomberg     10th May 2019 Norsk Hydro needs to extend its cost cutting after a production halt in Brazil erased the benefits of previous cuts, according to its new CEO. “We’ve been heavily affected by the Brazil situation,” Hilde Merete Aasheim, who started as CEO on Wednesday, said in an interview in Oslo. “The effect... 

NASA says aluminum fraud caused $700m satellite failures

By: Bloomberg     1st May 2019 Faulty materials supplied by a unit of Norsk Hydro ASA, one of the world’s top aluminum producers, led to more than $700 million of losses in two failed NASA satellite launch missions, according to an investigation by the space agency. NASA’s Orbiting Carbon Observatory mission in 2009 and Glory... 

Norway wealth fund to tighten coal ban, add green infrastructure

By: Bloomberg     5th April 2019 Norway plans to tighten restrictions on coal investments for its $1-trillion sovereign wealth fund while opening it up for renewable-energy infrastructure assets. The government proposes to expand its coal ban by adding absolute caps on production of thermal coal, or its use in power generation,... 

Norsk Hydro has April 12 court hearing on partly shut Brazil plant

By: Reuters     5th April 2019 A Brazilian federal court has scheduled an April 12 hearing on the year-long production embargo at Norsk Hydro's Alunorte alumina refinery in Brazil, the Norwegian company said on Friday. The plant has operated at half of its capacity since February 2018 after a spill that led regulators and... 

Hydro's Norwegian aluminium plant faces months to fully restore output

By: Reuters     2nd April 2019 Norsk Hydro may take months to return its Karmoey aluminium plant in western Norway to full capacity following a power outage that cut production by about 10%, the company said on Tuesday. Hydro on Monday switched off 45 of the 288 aluminium cells at the plant's main production line,... 

Norsk Hydro, Brazil prosecutor agree steps that could lead to Alunorte's full restart

By: Reuters     27th March 2019 Norsk Hydro has agreed with Brazil's federal prosecutor to have a third-party technical assessment that, if positive, could lead to it resuming full production at the half-shut Alunorte alumina refinery, the company said on Tuesday. The refinery, the world's biggest, has been operating at half... 

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