Vale (NYSE:VALE) (SAO:VALE5) has sold it aluminum assets to Norsk Hydro for $4.9 billion, setting up the company to supply raw materials for decades into the future with the significant new assets.
Norsk will take control of Paragominas, the third-largest bauxite mine in the world, and Brazil-based aluminum and alumina refining facilities.
They will also control the current 91 percent stake held by Vale in Alunorte, an 81 percent stake in an alumina refinery under development, and a 51 percent stake in the Albras aluminum. Alunorte is the largest alumina refinery in the world.
The reasoning behind Vales divesting of the properties is the increasing costs of energy in Brazil.
Showing posts with label Norsk Hydro. Show all posts
Showing posts with label Norsk Hydro. Show all posts
Sunday, May 2, 2010
Friday, April 2, 2010
Morgan Stanley (NYSE:MS) Raises Norsk Hydro ASA (OSL:NHY) Target
Morgan Stanley (NYSE:MS) confirmed their "equal weight" recommendation for Norsk Hydro ASA (OSL:NHY) and raised their target price from NOK45 to NOK 49. This seems to be based on increased demand for their core products.
Shares in Norsk Hydro have dropped just under 8 percent in the last year.
Norsk Hydro is a giant aluminum and energy company based in Norway.
Shares in Norsk Hydro have dropped just under 8 percent in the last year.
Norsk Hydro is a giant aluminum and energy company based in Norway.
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