Yesterday, 5:37 AM
Thu, Jul. 21, 6:45 AM
Fri, Jul. 15, 6:24 AM
Wed, Apr. 27, 4:06 AM
- Norsk Hydro ASA ADR (OTCQX:NHYDY): Q1 EPS of NOK0.39
- Revenue of NOK20.14B (-13.5% Y/Y)
Wed, Feb. 17, 3:42 AM
- Norsk Hydro ASA ADR (OTCQX:NHYDY): Q4 EPS of NOK0.59
- Revenue of NOK20.37B (-6.0% Y/Y)
Oct. 9, 2015, 9:12 AM
- Norsk Hydro (OTCQX:NHYDY), Europe’s third largest aluminum producer, signs a letter of intent to acquire Vale’s (NYSE:VALE) 40% stake in Brazilian bauxite producer Mineracao Rio do Norte, one of the largest suppliers of the mineral; the terms are not yet set.
- Norsk Hydro is seeking support for the deal from MRN’s other shareholders, including Alcoa (NYSE:AA), with an 18.2% stake, and Rio Tinto (NYSE:RIO), which holds 12%.
- MRN produces 18M metric tons/year of bauxite, or ~7% of global supply; Vale’s stake may be valued at $500M-$1B, according to Societe Generale.
Sep. 26, 2014, 9:48 AM
- Yara International (OTCPK:YARIY) is again hunting for a new leader after Norsk Hydro (OTCQX:NHYDY) CEO Svein Richard Brandtzaeg reverses his decision to take the top job, partly due to Yara's merger talks with CF Industries that could create the world’s largest fertilizer supplier.
- Brandtzaeg felt Yara breached its contract because he agreed to join the company July 18 but was not aware of the CF talks until he was informed Sept. 9, according to a Norsk Hydro spokesperson.
Jun. 23, 2014, 10:45 AM
- Norway's government says it will retain its current holding in Statoil (STO), backing off a pre-election proposal to cut its stake to ~50% from the current two thirds of the shares.
- Although the new Conservative government had pledged to reduce the state's role in the economy, the trade minister says STOl has a special place in Norwegian oil and gas policy and there's broad political agreement that the state should keep a majority stake.
- The government also plans to keep stakes in fertilizer producer Yara (YARIY, YRAIF), aluminum producer Norsk Hydro (NHYDY) and bank DNB (DNHBY) at current levels.
Nov. 12, 2013, 3:32 AM
- Vale (VALE) has sold a 19.6% holding in Norwegian aluminum-maker Norsk Hydro (NHYDY) for 10.18B Norwegian kroner ($1.66B).
- Vale sold 407.1M shares in Hydro for 25 Norwegian kroners each; if a greenshoe option for 40.7M shares is exercised, Vale will have sold its entire 21.6% interest for 11.18B kroners ($1.82B), or little more than half the $3.53B value of the stake when the Brazilian mining company acquired it in 2011.
- The divestment is part of Vale's strategy of selling non-core assets, putting projects on hold, and focusing on its more profitable iron-ore operations.
- Prior to the deal yesterday, equity analyst Alan Glezer said he viewed the "likely transaction as positive, as it strengthens Vale's balance sheet, helping to alleviate part of the leverage pressure during an intense period of investment." (PR)
Mar. 7, 2013, 10:30 AM
Sumitomo raises its forecast for a global aluminum surplus to the highest level in two years, saying demand from China won’t be enough to absorb new capacity. Supply is projected to outpace demand by 866K metric tons this year from 760K tons in 2012; China alone will have a surplus of ~510K tons after years of smelting capacity expansion.| Mar. 7, 2013, 10:30 AM
Apr. 10, 2012, 12:27 PM
Chinese aluminum production rose 18% through February, confounding a January prediction by Alcoa (AA) CEO Klaus Kleinfeld that the country's capacity would be sharply cut. Alcoa and Norsk Hydro (NHYDY.PK) - responding to market barometers like plentiful supplies and falling prices - have made production cuts, but China has its own set of signals.| Apr. 10, 2012, 12:27 PM
Jan. 11, 2012, 10:19 AM
Alcoa's (AA) shuttering of capacity followed by Norsk Hydro (NHYDY.PK) and surely to be followed by others are to be applauded, writes Andy Home, but they may not have much impact thanks to China, where production swings more in a single month than all of the announced cuts combined.| Jan. 11, 2012, 10:19 AM
Jan. 4, 2012, 11:48 AM
Microcap Ascent Solar Technologies (ASTI +33.3%) amps up after saying TFG Radiant Investment Group has agreed to buy just about all of Norsk Hydro's (NHYDY.PK +0.6%) ownership in the solar panel developer for about $4M, further strengthening the partnership between the two companies.| Jan. 4, 2012, 11:48 AM