Norsk Hydro ASA
Company Profile
Business Overview
-Norway-based major manufacturer of aluminum and aluminum products. Activities range from bauxite mining, alumina refining, extrusion processing to recycling.
| Segments | Operations |
| Bauxite & Alumina | -Bauxite mining activities, production of alumina and related commercial activities, primarily the sale of alumina. |
| Aluminum Metal | -Primary aluminium production and casting activities. The main products are comprised of extrusion ingots, foundry alloys, sheet ingot and standard ingot. |
| Metal Markets | -Recycling, sales, marketing and logistics as part of the primary aluminium products (Aluminium Metal) business. |
| Extrusions | -Delivers products within extrusion profiles, building systems and precision tubing, and is operating several recycling facilities, both integrated with its extrusion plants and separate plants. |
| Energy | -Provides the Company and other industrial customers renewable power, sourced from solar, wind energy and green hydrogen. |
-The Company’s Extruded Products business unit supplies products to several industries including the automotive industry.
-The Company's Extrusions business focuses on research and development of lightweight products for electric vehicles, such as aluminum extruded frames, sub-frames, BIW (Body-In-White) components and battery cases. For commercial vehicles, the precision tubing division aims to replace conventional fuel and brake lines with aluminum products.
Featured report |
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2023 Business Overview of Suppliers in Europe and the U.S. |
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Shareholders
The Company is listed on the Oslo Stock Exchange.
| Five largest shareholders | (As of Dec. 31, 2022) |
| Organization | Ownership interest (%) |
| Ministry of Trade, Industry and Fisheries | 34.7 |
| Folketrygdfondet | 6.0 |
| The Vanguard Group, Inc. | 2.4 |
| BlackRock Investment Management (UK) Ltd. | 2.2 |
| BlackRock Institutional Trust Company, N.A. | 2.1 |
-In October 2017, the Company's shares were delisted from the London Stock Exchange.
Products
-Aluminum foundry alloys
- Wheels
- Brake components
- Suspension components
- Cylinder heads
- Structural components
- Engine blocks
-Extrusion ingots
-Sheet ingots
-Remelt ingots
- Wheel rims
- Chassis components
- Cylinder heads
-Aluminum strips and sheets for automotive bodies
- Outer body panels
- Visible inner structures
- Body-in-white structures
- Hoods
- Trunk lids
- Front-ends
-Aluminum strips and sheets for automotive chassis
- Front and rear subframes
- Axle links
- Wheels
-Aluminum strips and sheets for automotive components
- Seat structures
- Instrument panel beams
- Door systems
- Sunroof systems
- Seat pans
- Fuel tanks
- Compressed-air reservoirs
- Heat shields
- Axle stiffening elements
-Aluminum strips and sheets for commercial vehicles
History
| 1905 | Established as Norsk Hydro Elektrisk Kvaelstofaktieselskab, and after that changed its name as a present. |
| 1988 | The Company acquired the remaining 30% of the shares in Hydro Aluminum a.s. for a consideration of NOK 1,715 million, including NOK 25 million option fee. |
| 1990 | The Company acquired Bohn Aluminum & Brass |
| 1991 | The Company acquired the aluminum extrusion and fabrication company Riego Wright S.A. in Spain for an aggregate purchase price of approximately NOK 615 million. |
| 1995 | The Company's subsidiary Hydro Aluminum signed a memorandum of understanding to form a joint venture company with Speedline, Italy. The newly formed company, Hyspeed, will be engaged in the casting and production of magnesium wheels in the Venice province in Italy. The Company acquired a 40% interest in Raufoss Automotive A.S. The Company also acquired Portalex Group (aluminum extrusion) in Portugal, and ICI's end user market for carbon dioxide (industrial chemicals) in the United Kingdom, for an aggregate purchase price of NOK 728 million. |
| 1997 | The Company acquired the remaining 60% of Raufoss Automotive AS activities |
| 2000 | The Company sold 80% of its holdings in Hydro Aluminum Fundo a.s. to Aluminum Wheel Company WLL (Aluwheel) of Bahrain. |
| 2000 | The Company acquired 100% of the shares in Wells Aluminum Corporation for a purchase price of NOK 1,352 million. |
| 2002 | The Company became the largest aluminium company in Europe, through the takeover of the German aluminium company Vereinigte Aluminiumwerke (VAW). |
| 2004 | The Company spun off its fertilizer operation, which became a separately listed company. The Company is concentrating its resources on energy and aluminum. |
| 2006 | The Company announced that it would exit the magnesium business through the closure of its magnesium plant in Canada and sales of two other plants |
| The Company announced the sale of its automotive casting business. | |
| Jul. 2007 | Established 50/50 joint venture Qatar Aluminium (Qatalum) with Qatar Petroleum. |
| 2009 | The Company sold its Automotive Structures Business to Benteler Group of Germany. The Business manufactures aluminum components, such as bumpers, roll-over protection systems and crash management systems as well as structural parts. |
| 2010 | Closed the doors at its aluminium tubing plant in Adrian, Michigan, U.S. |
| Apr. 2010 | Started production at Qatalum. |
| Nov. 2011 | Established 50/50 joint venture of Aluminium Norf GmbH (Alunorf) with Novelis. |
| Sep. 2013 | Formed a 50/50 joint venture by combining the Company's Extruded Products business segment with Orkla ASA's subsidiary Sapa. The new company, Sapa, includes all of the Extruded Products' business activities. |
| Oct. 2013 | Sold Hydro Aluminium Malaysia Sdn. Bhd., its aluminum rolling mill in Malaysia, to Nippon Foil Mfg. Co., Ltd., a wholly owned subsidiary of UACJ Corporation, based in Japan. |
| Nov. 2013 | Through a wholly owned subsidiary (Brazilian mining group Vale S.A.), sold shares in Hydro. The company reduced its ownership share from 21.6% to 2.0% of the shares. |
| May. 2014 | Closed its Kurri Kurri aluminum plant in Australia. |
| Nov. 2014 | The company and Rio Tinto Alcan (RTA) have closed the deal for Hydro to take over RTA's shares in the aluminum smelter Sor-Norge Aluminium AS (Soral) in Husnes, Norway. |
| Dec. 2015 | Finalized the sale of its aluminum rolling mill, Hydro Aluminum Slim S.p.A., in Cisterna di Latina, Italy. |
| Oct. 2017 | Completed acquisition of Orkla’s 50% ownership in Sapa. |
| Apr. 2018 | Completed acquisition of Arconic’s two extrusion plants in Utinga and Tubarao, Brazil. |
| Sep. 2019 | Established an aluminum research lab in Finspang, Sweden. |
| Jun. 2020 | Formed a joint venture, Hydro Volt, with Northvolt AB. |
| Aug. 2020 | Signed an agreement of the sale of its welding business in Remscheid, Germany to Rupert Fertinger GmbH. |
| Jun. 2021 | Completed the sale of its rolling business unit to KPS Capital Partners. |
| Feb. 2022 | Completed the sale of its extrusion plant in Kuppam (India) to Hindalco Industries Limited. |
Supplemental Information 1
>>>Business Report FY ended Dec. 31, 2007
>>>Business Report FY ended Dec. 31, 2008
>>>Business Report FY ended Dec. 31, 2009
>>>Business Report FY ended Dec. 31, 2010
>>>Business Report FY ended Dec. 31, 2011
>>>Business Report FY ended Dec. 31, 2012
>>>Business Report FY ended Dec. 31, 2013
>>>Business Report FY ended Dec. 31, 2014
>>>Business Report FY ended Dec. 31, 2015
>>>Business Report FY ended Dec. 31, 2021
Note: A figure in brackets ( ) indicates a loss