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Norsk Hydro ASA (NHY.OL)

NHY.OL on Oslo Stock Exchange

51.30NOK
18 May 2018
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Latest Key Developments (Source: Significant Developments)

Norsk Hydro signs 19-year wind power contract with Sweden's Blakliden
Wednesday, 16 May 2018 

May 16 (Reuters) - Aluminium firm Norsk Hydro ASA ::NORSK HYDRO: HYDRO SIGNS NEW LONG-TERM POWER CONTRACT FOR NORWEGIAN ALUMINIUM PORTFOLIO.POWER CONTRACT IS WITH BLAKLIDEN FÄBODBERGET WIND AB, A SWEDISH WIND POWER COMPANY, FOR ANNUAL BASELOAD SUPPLY OF 0.66 TERAWATT HOURS (TWH) IN PERIOD FROM 2022 TO 2041.BLAKLIDEN FÄBODBERGET WIND AB IS DEVELOPING AN ONSHORE WIND PARK LOCATED IN NORTHERN SWEDEN, AND IS OWNED BY VATTENFALL (30%), PKA FUNDS (30%) AND VESTAS (40%).CONTRACT WILL CONTRIBUTE TO SUPPLYING POWER TO HYDRO'S ALUMINIUM PLANTS IN NORWAY.  Full Article

Vestas, Vattenfall, PKA partner up for Swedish wind farm
Wednesday, 16 May 2018 

May 16 (Reuters) - Vestas Wind Systems A/S ::PARTNERS WITH SWEDISH UTILITY, VATTENFALL, AND DANISH PENSION FUND, PKA, FOR 353 MW WIND ENERGY PROJECT IN SWEDEN.SAYS FOR PROJECT, WHICH IS PKA'S FIRST INVESTMENT IN ONSHORE WIND, VESTAS WILL PROVIDE 353 MW OF V136-4.2 MW TURBINES AS WELL AS BECOME A SHAREHOLDER THROUGH A SHARE PURCHASE AGREEMENT FOR 40 PERCENT OF PROJECT.SAYS PKA AND VATTENFALL WILL OWN 30 PERCENT PROJECT EQUITY EACH.SAYS PROJECT'S TOTAL CONSTRUCTION FUNDING IS AROUND EUR 350M AND WILL BE PARTIALLY FUNDED BY NON-RECOURSE PROJECT FINANCING WHILE FINANCIAL CLOSE IS EXPECTED TO BE FINALISED IN COMING MONTHS.SUBJECT TO PROJECT FINANCING BEING IN PLACE, A 20-YEAR POWER PURCHASE AGREEMENT WITH NORSK HYDRO <<>> WILL BE CLOSED.  Full Article

Norsk Hydro Hydro Appoints Thuestad As New Head Of Bauxite & Alumina
Monday, 14 May 2018 

May 14 (Reuters) - Norsk Hydro ASA ::NORSK HYDRO: HYDRO APPOINTS THUESTAD AS NEW HEAD OF BAUXITE & ALUMINA.  Full Article

Norsk Hydro AGM approves dividend of NOK 1.75/shr
Monday, 7 May 2018 

May 7 (Reuters) - Norsk Hydro ASA ::REG-NORSK HYDRO: ANNUAL GENERAL MEETING APPROVES DIVIDEND OF NOK 1.75 PER SHARE.  Full Article

Norsk Hydro in long-term power contract for Norway aluminium
Monday, 9 Apr 2018 

April 9 (Reuters) - Norsk Hydro ASA ::TERM POWER CONTRACT FOR NORWEGIAN ALUMINIUM PORTFOLIO.SIGNED A LONG-TERM POWER CONTRACT WITH NORWEGIAN POWER PRODUCER STATKRAFT, FOR ANNUAL SUPPLY OF 0.75 TERAWATT HOURS (TWH) FROM 2021 TO 2030 AND 1 TWH FROM 2031 TO 2038.CONTRACTS WILL CONTRIBUTE TO SUPPLYING POWER TO HYDRO'S ALUMINIUM PLANTS IN NORWAY IN YEARS AFTER 2020, WHEN EXISTING LONG-TERM POWER CONTRACT WITH STATKRAFT EXPIRES.SINCE 2014 HYDRO HAS, INCLUDING ABOVE-MENTIONED CONTRACT, SIGNED CONTRACTS FOR 7.1 TWH PER YEAR IN PERIOD 2021 TO 2030, 4 TWH PER YEAR IN PERIOD 2031 TO 2034 AND 3.6 TWH FOR PERIOD 2035-2038.  Full Article

Hydro puts CFO in charge of Bauxite & Alumina after Brazil shutdown
Monday, 5 Mar 2018 

March 5 (Reuters) - Norsk Hydro Asa ::HYDRO TAKES NEW INITIATIVES TO RESOLVE ALUNORTE SITUATION.‍HAS APPOINTED CFO EIVIND KALLEVIK AS INTERIM HEAD OF BAUXITE & ALUMINA WITH IMMEDIATE EFFECT, REPLACING SILVIO PORTO​.‍KALLEVIK WILL AT SAME TIME REMAIN IN HIS POSITION AS CFO​.‍WILL FURTHER COMMISSION AN INDEPENDENT REVIEW OF ALUNORTE BY AN INTERNATIONALLY RENOWNED ENVIRONMENTAL CONSULTANCY​.‍ANNOUNCED MEASURES TO ASSIST LOCAL COMMUNITIES IN BARCARENA, AND ESTABLISHED A PROJECT TO REVIEW AND CONSIDER FURTHER STRENGTHENING ROBUSTNESS OF WATER TREATMENT AT ALUNORTE, TO BE LED BY SILVIO PORTO​.‍INDEPENDENT REVIEW BY INTERNATIONALLY RENOWNED ENVIRONMENTAL CONSULTANCY IS EXPECTED TO ANNOUNCE ITS CONCLUSIONS AND ACTION PLANS DURING FIRST WEEK OF APRIL​.‍REVIEW COMES IN ADDITION TO AN ALREADY ESTABLISHED EXPERT TASK FORCE LEADING A COMPREHENSIVE STUDY OF ALUNORTE, REPORTING DIRECTLY TO CEO.HYDRO LATE ON FRIDAY DECLARED FORCE MAJEURE AT ALUNORTE nL4N1QK54X​.  Full Article

Norsk Hydro Alunorte Issues Force Majeure Notice Following 50 Pct Production Cut
Friday, 2 Mar 2018 

March 2 (Reuters) - Norsk Hydro Asa ::ALUNORTE ISSUES FORCE MAJEURE NOTICE FOLLOWING 50% PRODUCTION CUT.‍CONTINGENCY PLANS ARE BEING IMPLEMENTED, AND ALUNORTE IS DOING ITS UTMOST TO REDUCE POTENTIAL NEGATIVE EFFECT ON CUSTOMERS AND SUPPLIERS​.SAYS ‍IS TAKING AND ASSESSING A RANGE OF POSSIBLE MITIGATING ACTIONS TO MINIMIZE NEGATIVE EFFECT FOR ITS CUSTOMERS​.‍ALUMINA DO NORTE DO BRASIL SA (ALUNORTE) ISSUED A FORCE MAJEURE NOTICE ON FRIDAY DUE TO PRODUCTION CUT AND CURRENT LACK OF CLARITY INTO WHAT MEASURES IT WOULD TAKE TO RETURN ALUNORTE TO NORMAL OPERATIONS​.  Full Article

Norsk Hydro to reopen aluminium output line at Norway's Hulsnes​
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Norsk Hydro Asa ::NORSK HYDRO: HYDRO TO RESUME PRODUCTION ON HUSNES LINE.‍WITH BOTH LINES IN OPERATION, PRODUCTION OF PRIMARY ALUMINIUM AT HUSNES WILL DOUBLE.​.‍HYDRO HUSNES TODAY PRODUCES ABOUT 95,000 TONNES OF PRIMARY ALUMINIUM PER YEAR. WITH RE-START, PLANT WILL PRODUCE APPROX. 190,000 TONNES OF ALUMINIUM ANNUALLY.​.‍EXPECTED TOTAL INVESTMENT FOR UPGRADE AND RE-START IS NOK 1.3 BILLION (IN 2017 TERMS). FINAL BUILD DECISION IS EXPECTED IN Q3 2018.​.‍LINE IS EXPECTED TO BEGIN OPERATIONS IN FIRST HALF OF 2020 AND WILL CREATE 90 NEW POSITIONS.​.  Full Article

Arconic Divests Its Latin America Extrusions Business
Friday, 8 Dec 2017 

Dec 8 (Reuters) - Arconic Inc ::ARCONIC DIVESTS ITS LATIN AMERICA EXTRUSIONS BUSINESS.ARCONIC DIVESTS ITS LATIN AMERICA EXTRUSIONS BUSINESS.ARCONIC INC - ‍UNDER TERMS OF AGREEMENT, ARCONIC WILL RECEIVE APPROXIMATELY $10 MILLION IN CASH FOR LAE BUSINESS​.ARCONIC INC - ‍ BUSINESS IS PART OF COMPANY'S TRANSPORTATION AND CONSTRUCTION SOLUTIONS SEGMENT​.ARCONIC INC - DEAL IS EXPECTED TO CLOSE IN FIRST HALF OF 2018.ARCONIC INC - RESTRUCTURING-RELATED CHARGE PRIMARILY RELATES TO NON-CASH IMPAIRMENT OF NET BOOK VALUE OF BUSINESS.ARCONIC INC - ‍ RESTRUCTURING-RELATED CHARGE IS A SPECIAL ITEM AND WILL NOT IMPACT ADJUSTED EARNINGS PER SHARE IN Q4 OF 2017​.ARCONIC - WILL RECOGNIZE RESTRUCTURING-RELATED CHARGE REPRESENTING LOSS ON SALE OF ABOUT $40 MILLION AFTER-TAX, OR $0.08 PER DILUTED SHARE, IN Q4 2017.ARCONIC - POST REGULATORY, ANTI-TRUST REVIEWS, OWNERSHIP OF LATIN AMERICA EXTRUSIONS WILL BE TRANSFERRED TO A UNIT OF HYDRO EXTRUDED SOLUTIONS AS.  Full Article

Norsk Hydro raises improvement target to NOK 3 bln from NOK 2.9 bln
Thursday, 30 Nov 2017 

Nov 30 (Reuters) - Norsk Hydro Asa ::‍LONG-TERM SUSTAINING CAPEX GUIDANCE REMAINS BELOW DEPRECIATION EVEN AFTER BEING ADJUSTED TO AROUND NOK 5.5-6.0 BILLION PER YEAR, WITH INCLUSION OF EXTRUDED SOLUTIONS​.‍SHAREHOLDER RETURNS CONTINUE TO BE A HYDRO PRIORITY, WITH A DIVIDEND POLICY OF RETURNING 40 PERCENT OF NET INCOME OVER CYCLE​.‍WE ARE INCREASING OUR OVERALL IMPROVEMENT AMBITION FOR PERIOD 2016-2019 TO NOK 3 BILLION VS EARLIER NOK 2.9 BLN​.‍UPWARDS ADJUSTMENT OF HYDRO'S OVERALL IMPROVEMENT TARGET IS A RESULT OF BAUXITE & ALUMINA LIFTING ITS AMBITION LEVEL BY NOK 300 MILLION WHILE ROLLED PRODUCTS IS LOWERING ITS 2019 TARGET BY NOK 200 MILLION​.‍REMAINS COMMITTED TO ENSURING CAPITAL DISCIPLINE AND A STRONG BALANCE SHEET, AND INCLUSION OF NEW EXTRUDED SOLUTIONS BUSINESS AREA WILL FURTHER STRENGTHEN COMPANY'S CASH FLOW​.‍LONG-TERM OUTLOOK FOR ALUMINIUM AS A LIGHT, STRONG AND INFINITELY RECYCLABLE MATERIAL CONTINUES TO BE POSITIVE, WITH GLOBAL DEMAND GROWTH FOR PRIMARY ALUMINIUM ESTIMATED AT 2-3 PERCENT PER YEAR FOR NEXT 10 YEARS​.‍GLOBAL SEMIS DEMAND GROWTH IS PROJECTED AT 3 PERCENT AND RECYCLING AT 3-4 PERCENT PER YEAR OVER SAME PERIOD​.‍WE SEE GLOBAL ALUMINIUM SUPPLY AND DEMAND FOR 2017 AND 2018 TO BE FAIRLY BALANCED, WITH DEFICIT IN WORLD OUTSIDE CHINA ACCELERATING WHILE CHINA CONTINUES TO BE IN OVERSUPPLY​.‍A MAIN UNCERTAINTY IN THIS SCENARIO RELATES TO WHAT EXTENT CHINA WILL ACT ON ITS STATED INTENTION TO REDUCE OUTPUT OVER WINTER DUE TO ENVIRONMENTAL CONCERNS​.  Full Article

NORWEGIAN STOCKS-Norwegian Air down drops on rising Oslo market as IAG says won't go hostile

OSLO, May 18 (Reuters) - * Norwegian shares rose on Friday as trade resumed after market was closed for a public holiday on Thursday * Oslo's benchmark index rose 0.52 pct, or 4.59 points, to 888.48 points and was up by 8.53 pct year-to-date * The broader Oslo All Share Index was up 0.67 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, rose $0.46 to $79.76 a barrel * Among the biggest firms on the Oslo Bourse, Equinor rose 1.06 pct, Telenor rose 0.74 pct and DNB fell -0.95