Norsk Hydro: Albras initiates 50 percent curtailment of aluminium production

Albras' Board of Directors has decided to curtail 50 percent of aluminium production at the Albras aluminium plant. The curtailment represents 230 000 tonnes on an annualized basis and is a result of the Alunorte alumina refinery not being able to supply more than 50 percent of Albras' alumina needs following Alunorte's forced production cut.

The curtailment decision was taken today, April 10, and the process to reduce production will be initiated shortly. Albras sources all its alumina from Alunorte.

Albras aims to restart production when Alunorte resumes full production.   

"Our main concern is our employees at Albras, as well as our customers who will be affected by this decision. We will maintain a dialogue with the unions to evaluate any effect on employees," says Chairman of Albras Einar Glomnes.

Albras is located in the municipality of Barcarena, in the state of Parà, in Brazil, next to the Alunorte alumina refinery, and has an annual capacity of 460 000 tonnes primary aluminium. Hydro owns 51 percent of Albras, the remaining 49 percent is owned by Nippon Amazon Aluminium Co. Ltd.

Investor contacts
Stian Hasle
+47 97736022
Stian.Hasle@hydro.com

Even Simonsen
+47 97953364
Even.Simonsen@hydro.com

Press contact
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com

Cautionary note
Certain statements included in this announcement contain forward-looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Hydro management concerning plans, objectives and strategies, such as planned expansions, investments, divestments, curtailments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, and (i) qualified statements such as "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar.

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