Norsk Hydro Asa to Invest in New Wire Rod Plant at Karmøy

Norsk Hydro Asa ( (GB:0Q11) ) has shared an update.

Norsk Hydro Asa announced its largest investment in Norway in a decade with a new wire rod plant at Karmøy, expected to begin production in 2028. This facility will enhance Hydro’s capacity to supply low-carbon aluminum for Europe’s critical energy infrastructure, supporting the continent’s energy transition and climate goals. Despite a challenging aluminum market, Hydro has seen increased sales of low-carbon aluminum, highlighting the material’s advantages in weight, durability, and recyclability. The project, part of Hydro’s annual investment budget, aims to position the company as a key supplier in the growing market for renewable energy infrastructure.

More about Norsk Hydro Asa

Norsk Hydro Asa is a leading company in the aluminum industry, focusing on providing low-carbon aluminum solutions. It plays a significant role in Europe’s energy infrastructure by supplying aluminum, a critical material for power cables and renewable energy systems.

YTD Price Performance: 9.57%

Average Trading Volume: 16,940

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: NOK138.1B

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