Hydro Decides to Retain Høyanger

Although negotiations have continued for some time with the Canadian company Timminco on a possible transfer of the metal plant in Høyanger, Hydro's management have now concluded that from a holistic perspective, the best for Hydro, the employees and the local community is that Hydro continues as owner of the Høyanger aluminium plant.

Hydro will not continue with negotiations on a possible sale of Hydro Aluminium Høyanger.

Hydro has laid weight on clarifying whether a future expansion and modernization of the aluminium plant would have been feasible for possible future owners, but at no point in the negotiations have Timminco, or any other parties, been willing to commit themselves to carrying out such a modernization or expansion.

The negotiations that have been carried out indicate that any sale of the metal plant in Høyanger in line with the terms that were attainable would have implied a significant loss for Hydro.

Furthermore, significant operational improvements at Høyanger have been achieved through substantial efforts from employees and management.

Hydro has taken the initiative for comprehensive business development in Høyanger after the company decided not to modernize the metal plant. Hydro will continue this work which has already resulted in the establishment of new businesses which, in local terms, has generated a significant number of jobs in Høyanger. Hydro is determined to cooperate with any participants in the business development initiatives to create as many new jobs as possible in Høyanger.

The aluminium plant in Høyanger commenced production in 1918 and is the oldest aluminium work in Norway. Høyanger became part of Hydro in the merger with ÅSV in 1986. Hydro has 220 employees in Høyanger. The metal plant produces primary aluminium supplied as sheet ingots through Hydro’s international market system, or as liquid metal to the Fundo alloy wheel factory. In 2004, Høyanger produced some 75,500 tonnes of primary aluminium and 82,200 tonnes of sheet ingot.

http://www.hydro.com

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit