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Norsk Hydro ASA (NHY.OL)

NHY.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Norsk Hydro signs contract to buy power from new wind farm
Tuesday, 23 Feb 2016 01:41am EST 

Norsk Hydro ASA:Says subsidiary Hydro Energi AS has signed a long-term power contract with Nordic Wind Power DA, a Norwegian wind power consortium, for annual baseload supply of between 0.6 and 1 TWh in the period from 2020 to 2039.The contract covers annual supply of around 0.6 terawatt hours (TWh) during 2020, around 1.0 TWh annually in the period from 2021 to 2035, and around 0.7 TWh annually from 2036 to 2039, resulting in around 18 TWh over the 20-year period.The contract will contribute to supplying power to Hydro's aluminium plants, including the Karmøy Technology Pilot, after the existing long-term power contract with Norwegian state utility Statkraft expires in 2020.Renewables producer Statkraft STATKF.UL and partners will build what it said was Europe's largest onshore wind farm for 1.1 billion euros ($1.21 billion) in Norway, it said on Tuesday.  Full Article

Norsk Hydro ASA goes ahead with pilot plant in Norway
Wednesday, 17 Feb 2016 01:01am EST 

Norsk Hydro ASA:To build the Karmoy technology pilot.Technology pilot is designed with an annual production capacity of about 75,000 tonnes​.First metal from technology pilot is expected during second half of 2017​.  Full Article

Norsk Hydro says 10 pct of Aardal aluminium capacity shut by power outage
Monday, 1 Feb 2016 01:00am EST 

Norsk Hydro ASA:Around 10 percent of Hydro Aardal's primary aluminium production capacity is temporarily shut down​ following power outage.‍Full primary aluminium production is expected to resume in Q2 2016​.‍Financial effects are expected to be limited, based on current information​.‍Casthouse operations at plant has fully resumed after incident, and efforts are ongoing to further stabilize plant's primary aluminium production processes.Hydro expects to leave customers unaffected by the incident by increasing remelt of cold metal at the plant's cast house, compensating the temporarily reduced primary production.Hydro Aardal has an annual production of around 190,000 tonnes primary aluminium.  Full Article

Norsk Hydro sells Herøya Industripark
Friday, 18 Dec 2015 02:55am EST 

Norsk Hydro ASA:Sells Heroeya Industripark.Transaction is expected to give Hydro a book gain of about 350 million Norwegian crowns.The transfer will likely occur during Q1 2016.The sale of Heroeya Industripark does not include the power distribution grid, which will continue to be operated by Hydro's wholly owned subsidiary Heroeya Nett AS.Hydro is in discussions with potential interested parties regarding the acquisition of this company.  Full Article

Norsk Hydro ASA: After-tax loss of EUR 45-55 mln due sale of rolling mill
Thursday, 17 Dec 2015 02:00am EST 

Norsk Hydro ASA:The announced sale of Hydro's rolling mill in Cisterna di Latina, Italy, has been finalized.An after-tax book loss of 45 - 55 million euros will be realized in Hydro's fourth-quarter 2015 reported results.  Full Article

Norsk Hydro ASA agrees to sell Italian rolling mill
Monday, 19 Oct 2015 02:00am EDT 

Norsk Hydro ASA:Agrees to sell Italian rolling mills unit, located in Cisterna di Latina.Buyer is Rolling Mills International GmbH, controlled by Quantum Capital Partners AG, a Munich-based investment firm.Value of the transaction is undisclosed.Transaction expected to close by end 2015.The Italian rolling mill has around 430 employees and a production capacity of around 92,000 metric tonnes rolled products per year.The plant was established in 1964, and Hydro took over the plant in 2002 as part of the acquisition of German aluminium producer VAW.  Full Article

Norsk Hydro ASA in Vale-deal to raise MRN ownership
Friday, 9 Oct 2015 01:00am EDT 

Norsk Hydro ASA:Signed a letter of intent with Brazilian mining company Vale for the possible acquisition of Vale's 40-percent interest in Brazilian bauxite producer Mineracao Rio do Norte.The value of the deal was not disclosed.  Full Article

Norsk Hydro ASA's part-owned Alouette plant strikes new power supply deal
Thursday, 10 Sep 2015 10:20am EDT 

Norsk Hydro ASA:Says Norsk Hydro's partly owned aluminium plant in Canada, Alouette, and the Government of Québec agree on new terms for electricity supply from 2017 to 2029.Says the price of electricity will be linked to the market price of aluminium in the new contract, and refer to a total of 8,5 TWh (965 MW) annually.Alouette is owned 20 pct by Hydro Aluminium AS.  Full Article

Norsk Hydro ASA enters into new long-term power contract for Neuss aluminium plant in Germany
Friday, 10 Jul 2015 02:06am EDT 

Norsk Hydro ASA:Says its fully owned subsidiary, Hydro Aluminium Rolled Products GmbH , has secured a power contract with Axpo Trading AG.Says the new power contract will replace parts of an existing combination of internal and external power arrangements entered into in 2012, supplying Hydro Neuss primary aluminium plant with a total of 2.2 TWh (250 MW) annually in the period from 2013 to 2017.  Full Article

Norsk Hydro ASA declares dividend
Wednesday, 6 May 2015 11:40am EDT 

Norsk Hydro ASA:Proposed to distribute a dividend of 1.00 Norwegian Krone per share.The dividend will be paid on May 18, to ordinary shareholders as of May 6, and who are listed in the Norwegian Central Securities Depository as of May 8.The share will be traded ex-dividend from May 7.  Full Article

BRIEF-Orkla CEO sees Sapa exit within 5 years, will raise dividend unless acquisitions done

* Orkla CEO Peter Ruzicka says highly likely that the company won't own stake in aluminium components maker Sapa, a joint venture owned 50/50 by Orkla and Norsk Hydro, five years from now