Hydro swims for higher ground, sets downstream aluminum cuts

Dec 15, 2005 | 09:52 AM |

Norsk Hydro ASA plans to curb investment in the downstream aluminum sector as part of its cost-cutting strategy.

"Returns in aluminum remain unsatisfactory despite continuous improvement measures throughout 2005," Eivind Reiten, Norsk Hydro's chief executive officer, said at an industry meeting in Oslo, Norway, where the company is based. "Hydro will reduce the overall investment level in aluminum, giving priority to strengthening its upstream activities. Investments downstream will be....

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