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Norsk Hydro Asa
built 655 days ago
Norsk Hydro, with an 18.07 percent interest, developed the field on behalf of its project partners. The Norwegian branch of Royal Dutch Shell PLC, with a 17.04 percent interest, takes over as field operator Dec. 1.
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Through major acquisitions and improvements in its operational performance, Norsk Hydro has strengthened its position in 2002. Despite challenging markets, Norsk Hydro expects to meet its previously announced profitability target for 2002.
OSLO (Thomson Financial) - Norsk Hydro ASA said it has agreed to sell its remaining magnesium remelting operations in Germany and China to Varomet Holdings Ltd, a subsidiary of Australian mining group Straits Resources. The sale of its remelters in Bottrop, Germany, and Xi'an, China, will bring to an end Norsk Hydro's disposal of its magnesium business, it said. Norsk Hydro's large primary magnesium plant in Quebec, Canada, was closed in March.
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Cecilie Ditlev-Simonsen has been appointed as senior vice president of corporate communications in Norsk Hydro, with responsibility for external and internal corporate communications and visual identity. She will report to CEO Eivind Reiten, and will take up her new post in October 2002.
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BRIEF: For the nine months ended 30 September 2007, Norsk Hydro ASA's total revenue decreased 6% to NOK140.31B. Net income from continuing operations for the period increased 24% to NOK17.17B. Total revenue reflects lower average spot power prices. Net profit from continuing operations for the period benefited from a higher profit from net financial items and lower exploration expenses, as well as lower other operating expenses.
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