Norsk Hydro, the oil and energy, light metals and agri group, confirms that Hydro and Sociedad Quimica y Minera de Chile S.A. (SQM) have signed an agreement to cooperate in the area of sales and marketing of specialty fertilizers as announced by SQM on Friday November 23, 2001. The intention to sign such an agreement was announced by the two companies in May 2001.
The agreement that has now been signed, replaces previous agreements between the two companies and will give benefits in terms of increased market coverage to both. For Hydro, the move means that a big step towards the strategic goal of becoming a major player in the world market for specialty fertilizers is made.
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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 20-F for the year-ended December 31, 2000 and subsequent filings on Form 6-K with the U.S. Securities and Exchange Commission.