Hydro Suspends Closure of German Smelter for Government Talks


Chief Executive Officer Svein Richard Brandtzaeg. Photo: Hydro.com

June 26 (Bloomberg) – Norsk Hydro ASA, Europe’s third- largest aluminum producer, suspended the closure of a German smelter while it holds talks with the government over proposed financial assistance.

Annual output at the Neuss smelter has been reduced to 50,000 metric tons and will be held at that level while talks with the government and labor unions continue, Hydro spokesman Halvor Molland said today by mobile phone from Oslo, where the company is based. Hydro’s previous plan was to “completely mothball” the plant, which has capacity of 230,000 tons a year, by the end of last month, he added.

“We are waiting to see whether the package will have a positive effect on Neuss,” Molland said. “We cannot wait endlessly and we are anxious to see more detail of what this plan really is and how it will be administered.”

Germany agreed in principle last week to make 40 million euros ($56.3 million) of aid available to help aluminum, zinc and copper producers overcome the effects of the economic slowdown, Reuters reported June 24.

Hydro, which has also curtailed production at smelters in Norway and Slovakia, said in April it may close Neuss because of electricity costs and weaker demand. Chief Executive Officer Svein Richard Brandtzaeg said in May that the company was evaluating whether to make the cutback at Neuss permanent,

Rival aluminum companies including United Co. Rusal, the largest producer, Alcoa Inc. and Rio Tinto Group have also reduced output after plunging demand from automakers and builders sent prices to a seven-year low and stockpiles soaring.

8 thoughts on “Hydro Suspends Closure of German Smelter for Government Talks

  1. Barrie Rhyne

    I really believe that a foreclosed can have a significant effect on the borrower’s life. Foreclosures can have a 6 to ten years negative influence on a applicant’s credit report. A borrower having applied for a mortgage or almost any loans for example, knows that the particular worse credit rating can be, the more difficult it is to secure a decent financial loan. In addition, it might affect the borrower’s chance to find a respectable place to lease or hire, if that becomes the alternative property solution. Good blog post.

  2. fotografia ślubna

    Excellent read, I just passed this onto a friend who was doing some research on that. And he just bought me lunch because I found it for him smile Thus let me rephrase that: Thank you for lunch!

  3. Eladia Ledwell

    My coder is trying to persuade me to move to .net from PHP. I have always disliked the idea because of the costs. But he’s tryiong none the less. I’ve been using WordPress on a variety of websites for about a year and am concerned about switching to another platform. I have heard excellent things about blogengine.net. Is there a way I can import all my wordpress posts into it? Any help would be really appreciated!

  4. Chiquita Timpe

    You have a large dream in your heart to get your communication out to several people, and are terrified of the exposure, so you retain your self a effectively-concealed top secret, all the while understanding you could do far more. This is a far also frequent circumstance for sensitive and spiritually-minded folks, for several reasons, not the minimum of which is the fact that the dread of currently being exposed and even burned (virtually and figuratively) lives in our DNA as strong girls!

  5. Ozella Callicoat

    I’m not that much of a online reader to be honest but your sites really nice, keep it up! I’ll go ahead and bookmark your site to come back later. All the best

  6. Micah Rivenberg

    It’s in point of fact a great and useful piece of info. I’m happy that you shared this useful information with us. Please stay us up to date like this. Thank you for sharing.

Comments are closed.