Beurs OSE: NHY
Sleutelfiguren Hilde Merete Aasheim (CEO)
Hoofdkantoor Oslo, Noorwegen
Werknemers 36.236 (jaareinde 2018)
Omzet NOK 159,4 miljard (2018)
Winst NOK 4,3 miljard (2018)
Marktkapitalisatie NOK 69 miljard (17 mei 2019)
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The process to find a new leader for the Extruded Solutions business area has started. Hogna will continue as executive vice president until a new leader is in place, until December 1, 2020, at the latest.
“Egil Hogna has played a vital role for Hydro as head of Extruded Solutions, demonstrating strong leadership skills, and taking firm actions to position the business for the future,” says Hydro President and CEO Hilde Merete Aasheim.
The Swedish start-up company Elonroad is looking toward the future of automotive by constructing a road that charges electric vehicles while they drive. Hydro is assisting by manufacturing the critical aluminium-made electric loops for the project.
Elonroad charging rail could be installed for urban traffic.
Elonroad, in collaboration with Sweden’s Lund University, has been commissioned to build 1,000 meters of road on Getingevägen, in the city center of Lund. EVolution Road is a three-year project that the Swedish Transport Administration intends to use as a demonstration site.
The high-tech electric road concept charges all types of electric vehicles when parked as well as when driving. The 1,000-meter test stretch in Lund is being built and will be in operation this June. It will be the first electric road system to be placed in an urban environment.
Collaboration begins in 2018
In October 2018, Elonroad met with Hydro to discuss delivery of an extruded aluminum profile – a “road profile” – that could contain electronics and a rail for charging electric cars while driving.
Such a profile would need to be precisely machined along its entire length, as well as its top and bottom, so that the electronics, cables, positive leads could be fitted and the rail mounted.
“It is very interesting and stimulating to cooperate with Elonroad and thus contribute to the sustainable transport of the future on our roads,” says Hans Fredriksson, who has led the project work for Hydro.
Karin Ebbinghaus, Elonroad’s chief executive officer, says: “We highly appreciate the experience and craftmanship together with the professionality that Hydro shows us, even if we are a small start-up. Our cooperation has been crucial to be able to meet our targets.”
Hydro’s aluminium manufacturing plant in Vetlanda began delivery of the unique product this year. It has supplied 500 meters of the "road profile" as well as 1,000 meters of positive leads as finished components. These processed components correspond to 500 meters of electrified road.
Part of a fossil-free transport system
Elonroad founder Dan Zethraeus says that one of the most important benefits of electric roads is that such roads can significantly reduce the size of the vehicle’s battery – and the weight of the car. “This allows you to carry more goods or passengers. Charging while driving also eliminates the need for downtime to charge the batteries, which saves time,” he says.
•It uses existing road infrastructure
•It has high efficiency, which can lower costs
•Electricity can be produced from renewable sources such as solar, wind and hydroelectric power
How it works
Elonroad’s concept involves a conductive rail. It can be laid on top of the road or built into the road.
The on-top version is 4 cm high and 35 cm wide, with inclined sides of only 10 degrees to make it smooth when changing lanes. It is bonded to the asphalt via mounting plates. The second alternative – the submerged rail built into the asphalt – has a flat top aligned with the surrounding asphalt. It is 25 cm wide and 5 cm deep. It also works well on highways.
When driving, a conductive pickup under the vehicle connects to the electric rail via sliding contacts. The rail is only active when covered by the vehicle, making it safe in a city environment.
The rail is powered by power stations located at the side of the road, and can deliver up to 300 kW with 97% efficiency while driving. In addition to providing propulsion, this is enough power to provide three kilometers of driving distance for every one kilometer of driving on the electric road.
Hydro is a fully integrated aluminium company with 35,000 employees in 40 countries, combining local expertise, worldwide reach and unmatched capabilities in R&D. In addition to production of primary aluminium, rolled and extruded products and recycling, Hydro extracts bauxite, refines alumina and generates energy to be the only 360° company in the global aluminium industry. The company is headquartered in Oslo.
Our vision is to electrify the entire transport sector and make fossil fuel a thing of the past. With clean energy from the sun, wind and sea in an emerging charging infrastructure that is accessible for everyone, and with gradually more and more self-driving vehicles shared in a smart way, drastically reduced CO2 emissions will follow.
https://www.hydro.com/en/media/news/202 ... -vehicles/
Considering the ongoing Covid-19 situation and the resulting market uncertainty, Hydro presents an operational update for its business areas for April and May, ahead of the complete second-quarter financial results on July 22, 2020.
Bauxite and Alumina
Volumes in April and May have increased compared to the same period in 2019, as a result of the increased production at the Paragominas bauxite mine and the Alunorte alumina refinery in Brazil, following the lifting of the production embargo.
Volumes in April and May have slightly increased compared to the same period in 2019, reflecting increased production at the Albras smelter in Brazil, which was partially curtailed during 2019, partly offset by decreased production at the curtailed Slovalco smelter in Slovakia.
Volumes in April and May for the Recycling business unit in Metal Markets have decreased compared to the same period in 2019, reflecting the weaker market demand in light of Covid-19.
Volumes in April and May have decreased compared to the same period in 2019, reflecting the weaker market demand in light of Covid-19.
Volumes in April and May have decreased compared to the same period in 2019, reflecting the weaker market demand in light of Covid-19.
Volumes in April and May have slightly decreased compared to the same period in 2019.
Hydro’s business area Extruded Solutions has decided to close the Hydro Precision Tubing Pune plant in India with immediate effect as of June 20, 2020. The basis for continued operation is not present.
Hydro PT Pune has made losses in 2019 and is expected to make a loss also in 2020. The long-term market outlook is negative for PT Pune, as most products are used for the combustion engine market where demand for Pune products is declining.
Hydro Precision Tubing remains committed to the precision tubing markets globally and will continue to have a strong footprint in Europe, Asia and North- and South America, maintaining its close cooperation and good relations with customers.
The Pune plant employs 61 people.
On June 20, three power transmission towers overturned, cutting the power supply to Hydro’s Paragominas bauxite mine and temporarily halting production. The mine is in the state of Pará in northern Brazil.
Work to repair the towers has started and regular power supply to Paragominas is expected to resume within two to three weeks.
The Paragominas mine delivers bauxite to the Alunorte alumina refinery in Barcarena via a 244-kilometer-long pipeline.
Production at Alunorte during this period will be reduced to between 50-70% of full capacity to balance the bauxite inventories.
There were no injuries to people nor damage to the environment or other production assets as a result of the incident. Hydro does not expect significant customer impact from the power outage.
Hydro is taking all necessary measures to restore power and normal operations as soon as possible, following necessary procedures and guidelines ensuring safe operations related to the Covid-19 situation in Brazil.
Hydro is cooperating with local authorities to determine the cause of the incident. Initial findings show that some parts of the transmission towers have been removed, causing the three power transmission towers to overturn and leading to the power outage.
Chinese alumina market participants are closely watching Hydro’s recent power outage to see whether the incident could cause a long-term supply alumina disruption, they told Fastmarkets on Tuesday June 23.
“Although it might impact only around 100,000 tonnes of alumina supply to the world, we are still uncertain as to whether [the Paragomias bauxite mine] will be back on time, especially when the Covid-19 outbreak is so serious in Brazil now,” an alumina trader in Beijing said.
Hydro announced on June 22 that production at its Paragomias bauxite mine, in the state of Pará in northern Brazil and supplier to its Alunorte alumina refinery in Barcarena via a 244-kilometer pipeline, has been temporarily halted due to a power outage. As a result, the company has reduced alumina production at Alunorte to 50-70% of full capacity to balance bauxite inventories, leading to an estimated reduction of around 100,000 tonnes of alumina supply to the market.
The outright aluminium price on the Shanghai Futures Exchange moved up in afternoon trading on Monday, reacting to the news of Hydro’s power disruption. The SHFE aluminium front month price bounced to 13,865 yuan ($1,959) per tonne in the minutes after the news emerged during China’s afternoon trading session before closing up 70 yuan per tonne from Friday’s close at 13,865 yuan per tonne.
The price had been hovering around negative territory for the whole day before it jumped at the close. The contract closed at 13,810 yuan per tonne on Tuesday. After the Hydro outage became known, one deal for 30,000 tonnes of alumina cargo fob Australia traded at $258 per tonne on Tuesday. A smaller Australia-origin cargo concluded at $274 per tonne on a cif China basis, with market participants assessing the freight netback at close to $17 per tonne. These deals were higher than the previous market deal at $252 per tonne done on June 18.
Participants told Fastmarkets if the disruption did affect prices it could be bullish in the short term for the fob Brazil alumina price. Fastmarkets assessed thedifferential to the fob Australia index, Brazil at a $5.63-per-tonne discount on June 18, with deals at $252 per tonne and $244 per tonne on a fob Brazil basis. Brazilian units have been trading at a discount to fob Australia since June 2019 when Alunorte was permitted to resume operating at full capacity after the 14-month embargo.
When Alunorte was operating at 50% capacity in 2018 and 2019, Brazilian alumina was trading at a premium to Australia. At its height on May 21, 2018, the differential was at a premium of $35.95 per tonne.
“Eyes are also on the Brazil differential because that is what shows the market swings. If there is a production shortage of Brazilian alumina the differential can switch - we are only in a small discount for now,” a European alumina trader said.
Chinese alumina uptrend under pressure So far, the outage has not offered apparent support to the domestic market which seems to be losing its uptrend momentum this week, according to Chinese market participants.
Sources in the spot market cited difficulty selling higher than 2,280 yuan per tonne in the northern regions. “There has not been much activity in the market since Monday,” a second alumina trader in Beijing said. “I have just heard of one tender concluded at close to 2,250 yuan per tonne in the northern region.”
Participants said they preferred to adopt a wait-and-see stance for further news even after the two higher seaborne deals.
“These new seaborne deals didn’t add tension to the Chinese alumina market. The market is quiet now and there is not much
buying interest. We prefer a wait-and-see stance in China during this period before July, hopefully there will be some big news to activate the market,” a third alumina trader said.
The Chinese alumina market firmed last week due to support from a strong aluminium price as well as a host of new aluminium projects.
Fastmarkets’ weekly assessment of the alumina metallurgical grade, ddp China price was at 2,250-2,280 yuan per tonne on June 18, up from 2,230-2,265 yuan per tonne the week prior. This marked its fourth consecutive weekly increase since May 28.
But a narrower percentage inventory decline of SHFE aluminium on Friday implies demand is slowing, which has put some pressure on the domestic Chinese alumina uptrend this week.
SHFE aluminium stocks fell by 3.9% or 9,759 tonnes to 238,703 tonnes on June 19, compared with a 6.8% or 18,126-tonne fall to 248,462 tonnes on June 12.
Additional reporting by Alice Mason in London.
On June 20, three power transmission towers overturned, cutting the power supply to the mine and temporarily halting production. The transmission towers have been repaired, and the power has been restored. There were no personnel injuries, damage to other production assets or impact on the nearby environment related to the power outage.
The company is cooperating with local authorities to determine the cause of the incident. Preliminary findings indicate that parts were stolen from the towers causing them to overturn.
“Hydro CIRCAL has gotten a lot of traction in the market and this is an important step to meet the growing demand for low-carbon products. Getting Azuqueca’s production up and running is truly a combination of sustainability and profitability,” says Eivind Kallevik, Executive Vice President of Primary Metal in Hydro.
By adding the capacity, Hydro will be able to supply more customers in the building and construction industry with this low-carbon extrusion ingot.
Hydro has invested €10 million in a new de-lacquering unit and melting furnace in order to process more post-consumer scrap and produce Hydro CIRCAL – aluminium made with a minimum of 75% recycled, post-consumer scrap. The project has been somewhat delayed due to Covid-19, but delivered on budget and without any health, safety, environment incidents.
“We are very pleased that we are able to ramp up our capacity, especially during these challenging times we all have experienced. This is a great recognition of the work being done by the team at Azuqueca and the support from our colleagues in the Primary Metal organization,” says Ramón Gonzalez, plant manager at Azuqueca.
The annual production of Hydro CIRCAL from Azuqueca is expected to be around 20,000 tonnes.
Hydro CIRCAL is a range of products made with recycled, post-consumer scrap. Using recycled content, energy consumption is drastically reduced while still producing high-quality products.