- Business
- Norsk Hydro ASA is a Norwegian aluminium and renewable energy company that produces primary aluminium, casthouse products, rolled products, extruded profiles, and energy solutions worldwide; it operates through segments including Bauxite & Alumina, Aluminium Metal, Extruded Solutions, and Energy. The company engages in bauxite extraction, alumina refining, primary aluminium smelting, recycling, extrusion, and hydroelectric power generation, offering products such as automotive and transport components, building systems, wire rods, and low-carbon aluminium solutions to industrial customers in sectors like automotive, construction, and packaging. Founded in 1905 and headquartered in Oslo, Norway, Norsk Hydro maintains operations in approximately 50 countries across all continents, with key facilities in Norway, Brazil, Germany, Hungary, and the United States; the Norwegian state holds a 34.3% ownership stake. Recent developments include the finalization of its 2024-2025 share buyback program in January 2025, involving the repurchase and cancellation of over 30 million shares; a February 2025 contract worth EUR 1.63 million with PyroGenesis to test plasma technology for decarbonizing aluminium casthouses at its Sunndal plant; the November 2025 sale of its stake in Corvus Energy for USD 30 million and signing of new USD 2.4 billion sustainability-linked revolving credit facilities; a NOK 1.2 billion investment decision in November 2025 for the Illvatn pumped storage hydropower plant; long-term power purchase agreements with Hafslund and NTE; a USD 2.5 million research partnership with the University of Michigan; and a proposal in November 2025 to close five European extrusion plants to optimize operations.