Norsk Hydro
 |
|
| Allmennaksjeselskap | |
| Traded as | : OTCQX: |
| Industry | Metals |
| Founded | 1905 |
| Headquarters | Oslo, Norway |
|
Key people
|
Svein Richard Brandtzæg (President and CEO), Dag Mejdell (Chairman) |
| Products | Aluminium and related products; hydropower and solar power technologies |
| Revenue |
 US$ 9.959 billion (2015) |
 US$ 875 million (2015) |
|
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US$ 228 million (2015) |
|
| Total assets |
US$ 13.845 billion (2015) |
|
Number of employees
|
23,000 (end 2010) |
| Website | www.hydro.com |
Norsk Hydro ASA (often referred to as just Hydro) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. Hydro is one of the largest aluminium companies worldwide. It has operations in some 50 countries around the world and is active on all continents. The Norwegian state owns 43.8% of the company through the Ministry of Trade and Industry. A further 6.5% is owned by Folketrygdfond, which administers the Government Pension Fund of Norway. Norsk Hydro employs approximately 12,500 people.Svein Richard Brandtzæg has been the CEO since 2009.
The company had a significant presence in the oil and gas industry until October 2007, when these operations were merged with rival Statoil to form StatoilHydro (in 2009 changed back to Statoil).
Financed by the Swedish Wallenberg family and French banks, the company was founded on December 2, 1905 as Norsk hydro-elektrisk Kvælstofaktieselskab (lit. Norwegian hydro-electric nitrogen limited) by Sam Eyde, exploiting a novel technology for producing artificial fertilizers by fixing nitrogen from air. The technology had been developed by the Norwegian scientist Kristian Birkeland. The method is still known as the Birkeland–Eyde process. The process required large amounts of electric energy, and for this, a power plant was built at the Svelgfossen waterfall near Notodden. Later also Rjukan Falls was developed and its power harnessed, in the process establishing the city of Rjukan, establishing the plant Norsk Hydro Rjukan.
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Wikipedia