Norsk Hydro

Norsk Hydro
Hydro · Public domain · source
Name	Norsk Hydro
Type	Public
Traded as	OSE]: NHY] | industry = Aluminium industry | founded = 1905 | founder = Sam Eyde, Kristian Birkeland | headquarters = Oslo, Norway | key_people = Hilde Merete Aasheim, Dag Mejdell | num_employees = 35,000 | website = norskhydro.com

Norsk Hydro is a Norwegian aluminium and energy company with a rich history dating back to 1905, founded by Sam Eyde and Kristian Birkeland, who developed the Birkeland-Eyde process for producing nitrogen-based fertilizers with the help of electric arc furnaces at Notodden and Rjukan. The company's early success was closely tied to the development of hydroelectric power in Norway, with the construction of the Vemork power plant, which was later the site of the Operation Gunnerside during World War II. Today, Norsk Hydro is one of the largest aluminium companies in the world, with operations in over 50 countries, including Australia, Brazil, China, and the United States. The company is listed on the Oslo Stock Exchange and is a member of the UN Global Compact, a United Nations initiative to promote sustainable development and corporate social responsibility.

● History

Norsk Hydro's history began in 1905, when Sam Eyde and Kristian Birkeland founded the company to produce nitrogen-based fertilizers using the Birkeland-Eyde process, which involved the use of electric arc furnaces to fix nitrogen from the air, a process that was later improved by the development of the Haber-Bosch process. The company's early success was closely tied to the development of hydroelectric power in Norway, with the construction of the Vemork power plant, which was later the site of the Operation Gunnerside during World War II. In the 1920s, Norsk Hydro began to expand its operations, with the establishment of new plants in Notodden and Rjukan, and the development of new products, such as aluminium and magnesium. The company played a significant role in the development of the Norwegian economy during the interwar period, and was a major supplier of aluminium to the Aircraft industry during World War II, with companies like Boeing and Lockheed Martin.

● Operations

Norsk Hydro's operations are divided into several business areas, including Bauxite and Alumina, Primary Metal, Rolled Products, and Extruded Products. The company has operations in over 50 countries, including Australia, Brazil, China, and the United States, and is a major supplier of aluminium to companies like Ford Motor Company, General Motors, and Toyota Motor Corporation. Norsk Hydro is also a major producer of renewable energy, with a significant portfolio of hydroelectric power plants in Norway and other countries, including the Statkraft and Vattenfall power plants. The company is a member of the International Aluminium Institute and the European Aluminium Association, and is committed to reducing its carbon footprint and promoting sustainable development in the aluminium industry.

● Products

Norsk Hydro's product portfolio includes a range of aluminium products, such as aluminium ingots, aluminium sheets, and aluminium extrusions. The company is also a major producer of aluminium alloys, including 6063 aluminium alloy and 7075 aluminium alloy, which are used in a range of applications, including aircraft and automotive manufacturing, with companies like Airbus and Volkswagen Group. Norsk Hydro is also a supplier of aluminium to the construction industry, with products like aluminium roofing and aluminium cladding, used in buildings like the Burj Khalifa and the Empire State Building. The company's products are used in a range of other applications, including packaging, transportation, and consumer goods, with companies like Coca-Cola and Procter & Gamble.

● Organization

Norsk Hydro is a public company listed on the Oslo Stock Exchange, and is headquartered in Oslo, Norway. The company is led by a board of directors chaired by Dag Mejdell, and has a management team led by Hilde Merete Aasheim. Norsk Hydro has a global workforce of over 35,000 employees, with operations in over 50 countries, including Australia, Brazil, China, and the United States. The company is organized into several business areas, including Bauxite and Alumina, Primary Metal, Rolled Products, and Extruded Products, and has a range of subsidiaries and joint ventures, including Hydro Aluminium and Sapa Group, which is a joint venture with Orkla Group.

● Environmental Record

Norsk Hydro has a commitment to reducing its environmental impact and promoting sustainable development in the aluminium industry. The company has set a range of environmental targets, including reducing its greenhouse gas emissions and increasing its use of renewable energy. Norsk Hydro is a member of the UN Global Compact and the World Business Council for Sustainable Development, and is committed to implementing the United Nations' Sustainable Development Goals in its operations, with a focus on SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action). The company has also implemented a range of environmental management systems, including ISO 14001 and EMAS, to manage its environmental impact and reduce its carbon footprint, with the help of companies like DNV GL and PwC.

● Financial Performance

Norsk Hydro's financial performance is closely tied to the global aluminium market, with the company's revenue and profitability influenced by factors like aluminium prices and global demand. The company has a strong financial position, with a significant cash reserve and a low level of debt, and is committed to delivering long-term value to its shareholders, including BlackRock and Vanguard Group. Norsk Hydro's financial performance is reported on a quarterly and annual basis, with the company's financial reports available on its website, and is subject to audit by companies like KPMG and Ernst & Young. The company is also a member of the Norwegian Confederation of Enterprises and the International Chamber of Commerce, and is committed to promoting corporate social responsibility and sustainable development in its operations, with a focus on OECD Guidelines for Multinational Enterprises and UN Guiding Principles on Business and Human Rights. Category:Aluminium companies