December 1, 2016 / 10:00 AM / a year ago

Aluminium maker Norsk Hydro says could make acquisitions

OSLO, Dec 1 (Reuters) - Norsk Hydro Chief Executive Officer Svein Richard Brandtzaeg made the following comments during a strategy update in London on Thursday:

** With a strong balance sheet we can make countercyclical investments

** We see (merger and acquisition) opportunities along the whole value chain

** But our ambition is not to be the biggest (aluminium maker) in the world but rather the most profitable one ... there are some (M&A) opportunities

** Says has little or no appetite for buying older, energy-intensive smelters with high carbon emissions

** Keeps options open on the future of Sapa joint venture; may buy Orkla’s stake but could also sell through an initial public offering or choose to end up as a minority shareholder (Reporting by Terje Solsvik, editing by Stine Jacobsen)

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