Key Developments: Norsk Hydro ASA (NHY.OL)

NHY.OL on Oslo Stock Exchange

16 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Norsk Hydro agrees to sell aluminium casthouse in Hannover
Tuesday, 15 Apr 2014 02:04am EDT 

Norsk Hydro ASA:Sells special alloy aluminium casthouse in Hannover to IQ Industrial Holding S.à r.l.Transaction is expected to close during the second quarter of 2014.  Full Article

Norsk Hydro ASA invests in production line in Germany
Tuesday, 25 Feb 2014 02:01am EST 

Norsk Hydro ASA:Says it will invest in a new production line at its rolled products plant in Grevenbroich, Germany.Says the new line will increase annual capacity for aluminum car body sheet to 200,000 metric tons.Says the new line, which has an estimated cost of 130 mln euros, is following a recent decision to expand the annual continuous heat treatment capacity from 20,000 metric tons to 50,000 metric tons.Says the expansion will include annealing and surface treatment lines, part of a flexible plant concept and production processes at Hydro's Grevenbroich plant.Says aluminum body sheet from the new production line will be used in manufacturing automotive components, including car hoods, doors, tailgates and side panels.Says the new production line will be completed in the second half of 2016 and the cost of the investment will be distributed in the period from 2014 to 2016.  Full Article

Norsk Hydro ASA proposes dividend
Wednesday, 12 Feb 2014 01:08am EST 

Norsk Hydro ASA:Says it proposes to pay a dividend of 0.75 norwegian crown per share for 2013.  Full Article

Norsk Hydro ASA Signs Revolving Credit Facility
Monday, 18 Nov 2013 02:00am EST 

Norsk Hydro ASA announced that it has signed a USD 1,700 million syndicated revolving multi-currency credit facility with a syndicate of 13 international banks. The facility is for general corporate purposes. Hydro has since 2007 had a USD 1,700 million revolving credit facility with maturity in July 2014. This facility has remained undrawn. Hydro has now established a new credit facility, replacing the facility which was to mature in July 2014. The credit facility has a five-year tenor, and includes two one-year extension options.  Full Article

Norsk Hydro ASA Signs Contract with Western Bulk ASA-Reuters
Thursday, 14 Nov 2013 02:27am EST 

Reuters reported that Western Bulk ASA has entered into a six-year contract with Norsk Hydro ASA’s Hydro Aluminium to charter a ship from Japan for seven years, with a purchase option as of year five. The financial details were not disclosed.  Full Article

Vale SA Sells Entire Stake in Norsk Hydro ASA
Thursday, 14 Nov 2013 02:15am EST 

Norsk Hydro ASA announced that in connection with Vale's sale of ordinary shares of Norsk Hydro ASA (Hydro), through its wholly owned subsidiary Vale International Holdings GmbH, the over-allotment option of 40,712,224 Hydro shares granted by Vale was exercised in full at a price of NOK 25.00. Therefore, the gross cash proceeds from the offering will increase to NOK 11.196 billion, equivalent to approximately USD 1.822 billion. Settlement of the previously announced base offering and the over- allotment option is expected to take place on November 15, 2013. As a result of and following the exercise of the over- allotment option, no stabilization activities will be undertaken and Vale will not hold any shares in Hydro. The sale of Hydro shares is consistent with Vale's strategy of reducing its exposure to non-core assets. Vale currently has a representative on the board of directors of Hydro.  Full Article

Vale Prices Offer to Sell Norsk Hydro ASA's Shares
Tuesday, 12 Nov 2013 02:03am EST 

Norsk Hydro ASA announced that Vale S.A. (Vale) has placed 407,122,241 ordinary shares of Norsk, held through its wholly-owned subsidiary Vale International Holdings GmbH, at a price of NOK 25.00 per share, resulting in gross cash proceeds of NOK 10,178 million, equivalent to USD 1,656 million. Assuming the over-allotment option of 40,712,224 shares granted by Vale is exercised in full, gross proceeds will increase to NOK 11,196 million, equivalent to approximately USD 1,822 million. After the completion of the transaction, assuming no exercise of the over-allotment option, Vale will hold, through its wholly-owned subsidiary, 40,712,224 shares in Hydro, representing approximately 2.0% of Hydro's share capital and voting rights and thus reduce its shareholding in Hydro below the 5% threshold set out in the Norwegian Securities Trading Act, Section 4-2. If the over-allotment option is exercised in full, Vale will not hold any shares in Hydro.  Full Article

Norsk Hydro ASA's Part-Owned Smelter Slovalco Signs Power Contract
Tuesday, 8 Oct 2013 02:01am EDT 

Norsk Hydro ASA announced that its part-owned aluminium smelter in Slovakia, Slovalco, has signed a Power Purchase Agreement (PPA) for power supply with Slovenské Elektrárne. Following signing of a Letter of Intent for power supply, announced on July 18, Slovalco has entered into a PPA for electricity supply in the period 2014 to 2021. The power contract is the important element in securing the total power framework for Slovalco, while securing other elements, such as grid cost, are in process.  Full Article

Norsk Hydro ASA and Agder Energi Sign LoI to Establish Jointly Owned Company to Develop Otra Assets; Norsk Hydro Signs Extension of Project Management Agreement with Agder Energi
Friday, 27 Sep 2013 02:01am EDT 

Norsk Hydro ASA (Hydro) announced that it has signed a Letter of Intent (LoI) with Agder Energi for the possible establishment of a jointly owned company to operate and further develop their combined assets in the Otra River, southern Norway, where Hydro recently acquired the Vigelands Brug hydropower plant. The LoI is conditional on a proposed adjustment of the Industrial Concession Act to enable private entities the possibility to organize an ownership share in a company with liability (ANS/DA). This will enable private entities to take out profit in the form of power rather than restricting it to financial remuneration, which is important to Hydro as a fully integrated aluminum company active throughout the value chain from bauxite to finished products. Should it materialize, Hydro would own less than one-third of the envisaged jointly owned company (DA), which would satisfy the legal requirements regarding public control and be comparable to Hydro owning one-third in a private limited company. In addition, Hydro and Agder have signed an agreement regarding project management support. Hydro's Projects unit has provided project management resources and systems to Agder Energi since summer of 2012 to execute the Iveland 2 project. This cooperation has now been extended through a Collaboration Agreement to cover all of Agder Energi's major hydropower projects, lasting for several years.  Full Article

Orkla ASA and Norsk Hydro ASA Complete Establishment of Sapa Aluminium Joint Venture
Monday, 2 Sep 2013 02:01am EDT 

Orkla ASA announced that the transaction to combine Norsk Hydro ASA's Extruded Products business area and Orkla ASA's Sapa into a 50/50 joint venture has been completed as planned. Orkla and Hydro agreed in October 2012 to combine their respective profiles, building systems and tubing operations in a joint venture, owned 50/50 by the two companies. The new entity, Sapa, is a player within the field of extruded aluminium solutions. The company has 23,000 employees, and is headquartered in Oslo, Norway. Sapa is serving customers from more than 100 production units in 40 countries. The new joint venture is operating in Europe and North America, Brazil, China, India and Vietnam.  Full Article

UPDATE 2-NORDIC STOCKS - Factors to watch on April 15

(Adds Aker Solutions, Alma Media and Norsk Hydro, updates H&M and SKF)

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