LYCOS RETRIEVER 
Norsk Hydro Asa: United States
built 628 days ago
Based in Oslo, Norsk Hydro competes in two businesses, energy and aluminum. The energy business will be sold to Statoil in the third quarter of 2007. The acquisition of German firm VAW gave Hydro an integrated aluminum operation, beginning with aluminum smelting and ending in products such as airplane and car parts. It ... runs a series of power plants, some of which are hydroelectric. Total sales in 2006 reached NOK 196 billion, or about $30.6 billion.
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Norsk Hydro ASA (OSE: NHY, NYSE: NHY) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. Hydro is the fourth largest integrated aluminium company worldwide. It has operations in some 40 countries around the world and is active on all continents. The Norwegian state holds a 43.8 percent ownership interest in the company, which employs approximately 28,000 people. Eivind Reiten has been the CEO since 2001.
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The consolidated financial statements include Norsk Hydro ASA and subsidiary companies. Hydro consolidates subsidiaries where Hydro controls directly or indirectly more than 50 percent of the voting interest. Hydro consolidates variable interest entities (VIEs) when Hydro is considered as the primary beneficiary based on contractual and risk-sharing arrangements. Variable Interest Entities (VIEs) are entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. All significant intercompany transactions and balances have been eliminated.
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