SOURCE: Norsk Hydro

March 18, 2011 07:40 ET

Annual reporting 2010: Turning point for a new era

OSLO, NORWAY--(Marketwire - March 18, 2011) - Hydro's ambition is to be at the highest level of the world's aluminium industry, President and CEO Svein Richard Brandtzæg states in the company's annual reporting for 2010, published on Hydro's web site on Friday.

"Last year was a turning point for Hydro. Partly because we emerged from the crisis as a stronger company. Partly because the completion of Qatalum gives Hydro an important presence in the best quartile of the world's primary aluminium production. But first and foremost because the acquisition of Vale's aluminium operations in Brazil initiates a new era in our history," Brandtzæg writes in his letter to shareholders.

"Agenda 2010 - our two-year program to meet the challenges of the financial crisis - has been successfully implemented. It has now been replaced by a new ambition: To lift Hydro to the highest level of the world's aluminium industry," Brandtzæg says.

Hydro's main report for 2010 is the "Annual Report - 2010" with detailed information about Hydro's businesses, operational performance, financial performance, viability performance, corporate governance and financial statements. The report is only available in English.

In addition, a report which fulfills the Norwegian statutory requirements for annual reporting has been prepared: "Financial Statements and Board of Directors' Report - 2010." This report is available in Norwegian and English.

At the full content of the two reports is presented with supplementary information. All parts of the reports can be downloaded from this web site and printed in PDF format on demand.

Hydro's main reporting on viability performance is included in the "Annual Report - 2010," with additional details on

Shareholders and stakeholders may request a hard copy of any of Hydro's 2010 reports at free of charge.

Annual Report 2010:

Financial statements and Board of Directors report 2010:

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Source: Norsk Hydro via Thomson Reuters ONE


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