Hydro’s production still cut in Brazil

Norwegian metals firm Norsk Hydro remains under court-imposed production cuts at its troubled aluminum plant in northern Brazil. A federal court has upheld the cuts, which have reduced Hydro’s production by half, on the grounds the plant still doesn’t have a functioning drainage system that can handle heavy rains. Hydro’s Alunorte plant has been disrupted […]

Hydro now denies polluting in Brazil

Large Norwegian aluminum company Norsk Hydro lashed back at its critics on Monday with two new reports claiming that it was not responsible for polluting water supplies near its Alunorte plant in Brazil. Hydro’s stock soared on the claims, up 6.62 percent at the close of trading in Oslo, but Brazilian authorities rejected them later […]

‘No hiding’ from Trump’s trade war

Norwegian analysts and industrial players are among those claiming that US President Donald Trump’s trade war with China can have grave consequences for Norway’s economy as well. The country’s national industrial organization Norsk Industri warns that it also poses a major test of Norway’s own trade agreement with the European Union (EU). “This is no […]

Hydro’s trouble deepens in Brazil

Large industrial firm Norsk Hydro hadn’t yet received the legal documents, but faces having to defend itself in a civil lawsuit over its alleged pollution of local water supplies around the large Alunorte aluminum refinery it owns and operates in northern Brazil. Local prosecutors are demanding the equivalent of nearly NOK 600 million (USD 77 […]

Kongsberg’s Qatar deal raises concerns

An announcement last week that Norwegian defense and technology firm Kongsberggruppen had struck a major deal with officials in Qatar cheered investors, who sent Kongsberg’s stock right up. Others worry it may cause problems for Norway with Saudi Arabia. Kongsberg officials claim its agreement to deliver long-term technological development programs within defense, the maritime industry […]

Hydro apologizes for spills in Brazil

Norwegian industrial firm Norsk Hydro has revealed more cases of spills from its aluminum plant in Brazil, and apologized for what may have fouled the water supply for those living nearby. The company faces fines and regulatory restrictions at its Alunorte plant, along with questions and criticism at home in Norway. “We have discharged untreated […]

Hydro admits to spills in Brazil

Norwegian industrial firm Norsk Hydro has confirmed a series of unlicensed “release” of what it calls “excess rainwater” from its large aluminum plant in Brazil last month. Others including newspaper Dagens Næringsliv (DN) call the release “ulovlige utslipp” (illegal spills) that are suspected of having polluted local water supplies and left the Oslo-based company dealing with […]

Hydro accused of pollution in Brazil

Oslo-based industrial firm Norsk Hydro is fending off accusations that its Hydro Alunorte aluminum plant in northern Brazil has polluted water sources used by the local population. After initially denying the accusations, Hydro has formed an “expert task force” to review the situation, and stresses that it is cooperating with “all relevant authorities.” Both local […]

Ailing Norske Skog strives to survive

NEWS ANALYSIS: Forest products firm Norske Skog was once one of Norway’s top industrial companies, founded by forest owners in 1962 and still one of the world’s largest producers of paper for publications. Now it’s struggling to ward off bankruptcy after an international expansion program left it saddled with debt, while new technology has cut demand for its products. […]

Forestry firm’s fate may lie with state

Shares in crisis-ridden forestry firm Norske Skog rebounded this week after Prime Minister Erna Solberg wouldn’t rule out contributing to a rescue plan for the last major receiver of timber in Norway. While some wealthy forest owners and investors seem to welcome state assistance, others warn against it. The fate of Norske Skog is likely to set […]