Norsk Hydro : CAP alumina project postponed
(Thomson Reuters ONE) -
Companhia de Alumina do Para's (CAP) Board of Directors has decided to postpone
the construction of a new alumina refinery in Barcarena, Brazil.
The main reasons for the postponement of the CAP project are the uncertainty
related to short- and medium-term aluminium supply/demand balance and the
development in the world economy. The new alumina refinery, supplying raw
material for aluminium production was scheduled to start production in 2015
based on bauxite supply from an expansion of Hydro's mining operations in
Paragominas, Brazil.
Companhia de Alumina do Para is owned by Hydro (81 percent) and Dubal (19
percent).
"The decision to postpone the CAP project does not reflect any changes in our
long-term faith in the market for alumina and aluminium or the CAP project.
Economic developments in a number of countries, not least in Europe, have led to
lower production volumes than expected at our customers," says Executive Vice
President Johnny Undeli, head of Hydro's bauxite and alumina operations.
Investor contact
Contact Stian Hasle
Cellular +47 97736022
E-mail Stian.Hasle(at)hydro.com
Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland(at)hydro.com
*********
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these differences include, but are not limited to: our continued ability to
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Source: Norsk Hydro via Thomson Reuters ONE
[HUG#1593696]
Unternehmensinformation / Kurzprofil:
Datum: 14.03.2012 - 08:01 Uhr
Sprache: Deutsch
News-ID 124597
Anzahl Zeichen: 4227
contact information:
Town:
Oslo
Kategorie:
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