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Norsk Hydro Asa ( (GB:0Q11) ) has provided an update.
Norsk Hydro’s Qatalum joint venture in Qatar has begun a controlled shutdown of its aluminium smelter after its gas supplier announced a forthcoming suspension of natural gas deliveries, with the process having started on March 3 and expected to finish by the end of the month. The company aims to minimize health, environmental and safety risks while preparing the plant for a future restart, which could require six to twelve months once conditions allow.
Hydro has declared force majeure for Qatalum customers, is informing buyers and exploring alternative supply channels to meet contractual obligations, while emphasizing employee safety as its top priority. The shutdown affects a plant with 636,000 tonnes of primary aluminium nameplate capacity and 664,000 tonnes of casthouse capacity, signaling a potentially material disruption to regional aluminium output and raising uncertainty for customers reliant on Qatalum’s products.
The most recent analyst rating on (GB:0Q11) stock is a Hold with a NOK80.00 price target. To see the full list of analyst forecasts on Norsk Hydro Asa stock, see the GB:0Q11 Stock Forecast page.
More about Norsk Hydro Asa
Norsk Hydro ASA is a global aluminium and energy company with operations spanning bauxite mining, alumina refining, primary aluminium production and downstream fabrication. Through its 50/50 joint venture Qatalum with Qatar Aluminum Manufacturing Company, Hydro operates a fully integrated aluminium complex in Qatar, including a large smelter, casthouse, carbon plant and dedicated gas-fired power plant, serving industrial customers worldwide.
Average Trading Volume: 4,196,373
Current Market Cap: NOK177B
For an in-depth examination of 0Q11 stock, go to TipRanks’ Overview page.