Norsk Hydro ASA (OTC: NHYDY, OSE: NHY) was founded in 1905 and is headquartered in Oslo, Norway. It has 34,625 full-time employees and is a Norwegian aluminum and renewable energy company.
Norsk Hydro ASA (NHYDY):
Norsk Hydro ASA is one of the largest aluminum companies in the world, with operations in about 50 countries around the world and active on all continents. The Norwegian state owns 34.3% of the company through the Ministry of Trade, Industry and Fisheries (Ministry of Trade, Industry and Fisheries). Another 6.5% of the shares in Folketrygdfond, which manages the Norwegian government pension fund. Svein Richard Brandtzæg has been the company’s CEO since 2009.
Norwegian Hydro Aluminium is divided into 6 divisions to operate : Bauxite & Alumina (bauxite and alumina), Primary Metal (primary metals), Metal Markets (metal marketing), Rolled Products (rolled products), Extruded Solutions (Extrusion solution) and Energy.
1. Bauxite & Alumina -engaged in bauxite mining activities, alumina production and related commercial activities, and sales of alumina.
2. Primary Metal -engaged in primary aluminum production, remelting and casting activities. This department mainly provides extruded ingots, cast alloys, sheet ingots and standard ingots.
3. Metal Markets -selling the products of the company’s primary metal factory; operating remelting machines; and conducting metal physical and financial product transactions.
4. Rolled Products -operating rolling mills and primary metal factories. This department mainly provides aluminum foil, strips, sheets and lithographic printing plates for the packaging, automotive and transportation industries, and offset printing plates.
5. Extruded Solutions ——Provide extruded profiles, building systems and precision pipe products.
6. Energy -owns and operates 26 hydroelectric power plants with a total installed capacity of approximately 2000 MW in Norway.
In addition, Norwegian Hydro Aluminium also provides services to industries such as electronics, construction and construction, consumer goods, general engineering, printing, HVACR and solar products.
Hydro Aluminium Norsk Hydro ASA (NHYDY) history:
On December 2, 1905, with the funding of the Wallenberg family of Sweden and the Bank of France, Sam Eyde founded Norsk hydro-elektrisk Kvælstofaktieselskab (Illuminate Norsk Hydro Nitrogen Co., Ltd.), the predecessor of Norsk Hydro ASA, using a new technology to fix Nitrogen in the air is used to produce artificial fertilizers.
In 1940, Hydro started building a magnesium carbonate plant in Herøya, which was the company’s first attempt to enter the metal industry, but at that time Germany invaded Norway and the plan was stopped.
In 1941, the Oslo Consortium invested the equivalent of 127 million Euros in 2014 (the consortium includes Thomas Fearnley, Orkla, Fred Olsen, Storebrand, Jens P. Heyerdahl, Klaveness & Co, Christopher Kahrs Kielland), and The cooperation of the Nazi German regime did not result in any company employees being convicted after the war.
In the late 1980s, Hydro acquired Mobil ‘s gas stations in Norway, Sweden and Denmark and renamed it Hydro.
In 1995, Hydro merged its gas stations in Norway and Denmark with Texaco (Texaco) to create the joint venture HydroTexaco. Later in 2006, the gas station business was sold to Reitangruppen .
In 1999, Hydro acquired Saga Petroleum, Norway’s third-largest oil company, which was mainly engaged in upstream petroleum business in Norway and the United Kingdom. Later, the British business was sold.
In 2000, Hydro acquired Wells Aluminum, a US aluminum extrusion plant.
In 2002, Norsk Hydro acquired Vereinigte Aluminum Werke, Germany’s leading aluminum producer, from German utility company E.ON and French building systems company Technal.
On March 26, 2004, Hydro’s fertilizer business was spun off in the name of Yara International as an independent listed company. Hydro distributes all of its Yara shares to Hydro’s shareholders and currently has no ownership in Yara.
In December 2006, Norsk Hydro company unveiled a spin-off its oil business and oil and gas companies – Statoil recommendation (Statoil) merge. According to European Economic Area (EEA) regulations, the proposal was approved by the European Union on May 3, 2007, and passed by the Norwegian Parliament on June 8, 2007. The merger was completed on October 1, 2007, and Norsk Hydro’s shareholders accounted for 32.7% of the shares in the new company, StatoilHydro.
In 2011, Hydro acquired Vale ‘s aluminum assets in Brazil and became a truly comprehensive aluminum company. This makes Hydro an important participant in bauxite mining and alumina refining.