Norsk Hydro: Extended maintenance at Paragominas, production at Alunorte unaffected

OSLO, Norway, March 18, 2015 (GLOBE NEWSWIRE) -- One of two ball mills at Hydro's bauxite mining operations, Paragominas in Para, Brazil, was taken out for planned maintenance in the beginning of March, with planned return to production towards the second half of March. As work progressed, an inspection revealed items which require an extended period of reduced production. Maintenance and improvements are now expected to last until the second half of April.

Paragominas normally operates with two ball mills, and with one ball mill out for maintenance, production at Paragominas is now running at 50% of capacity. In preparation for this maintenance, Hydro's Alunorte alumina refinery was operating with an inventory level sufficient to cover the planned maintenance period. The current inventory levels at Alunorte and supply from the MRN bauxite mine are expected to be sufficient to cover the bauxite needs during the extended maintenance period, ensuring that production at Alunorte remains unaffected.

Paragominas has a nameplate capacity of 9.9 million tonnes. Alunorte has a nameplate capacity of 6.3 million tonnes, and is the world's largest alumina refinery. Both operations are situated in the state of Pará in Brazil.

Investor contact
Contact Pål Kildemo
Cellular +47 97096711
E-mail Pal.Kildemo@hydro.com

Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland@hydro.com

Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


Source:Norsk Hydro