Will Hydro spin off its aluminium business?

The Carnegie analyst John Olaisen predicts that Hydro will spin off its aluminium division in the same way it did with its fertilizer operations. The division is being prepared for divestment in the first instance by expanding Hydro Aluminium's refining in Mexico and India to counteract the problems in Europe where costs are high and growth low. The company is planning to invest NKR 2 bn (US$ 317mn) in a new aluminium plant plus associated gas power generation. (Asia Intelligence Wire - 05/03/05)

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