OSLO, Norway, Oct. 28, 2002 (PRIMEZONE) -- Norsk Hydro (NYSE:NHY):
Hydro Aluminium has today commissioned the first cells in the new potroom in the Sunndal metal plant, three weeks ahead of schedule. After a test production period, the new plant will be inaugurated by Norwegian Prime Minister, Mr. Kjell Magne Bodevik, on Tuesday, December 3, 2002.
The new potroom represents the first phase of the NOK 5.6 billion Sunndal expansion and modernization project. Today, some 60 per cent of the total project is now completed. The construction work is ahead of the time schedule and within cost estimates.
Section 1 in the new potroom consists of 108 electrolytic cells with a total annual capacity of approximately 76,000 tonnes will be fully operational in February 2003. Simultaneously, the old Soederberg cells, with annual capacity of 66,000 tonnes, will be gradually phased out. Section 2 will be completed in the summer of 2003 and the full expansion will be completed in fourth quarter 2004. The Sunndal plant will then have a total capacity of close to 330,000 tonnes of primary aluminium per year.
Hydro Aluminium, Europe's largest integrated aluminium company, is a part of the Norsk Hydro group.
Certain statements in this press release are or may constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not in the nature of historical facts may be deemed to be forward-looking statements and may contain identifying words such as "believes," "anticipates," "plans," "expects" and similar expressions. These forward-looking statements are based on Hydro's current expectations, assumptions, estimates and projections about the company and the industries in which it engages in business. All forward-looking statements involve risks and uncertainties. For a detailed description of factors that could cause Hydro's actual results to differ materially from those expressed in or implied by such statements, please refer to its annual report on Form 20F for the year-ended December 31, 2001 and subsequent filings on Form 6K with the U.S. Securities and Exchange Commission.
Hydro Aluminium, Drammensveien 264 Vaekeroe, N0246 OSLO, Phone: (47) 22 53 81 00, Fax: (47) 22 53 79 30, www.hydro.com