Hydro Cleared to Resume Normal Production at Alunorte; Shares Fairly Valued vs. Our NOK 34 FVE
Norsk Hydro's shares rallied after the Brazilian federal court lifted a production embargo on the company's Alunorte refinery. The facility had run at a mandated 50% capacity utilization rate since the embargo was enacted in late February 2018. Sanctions stemmed from concerns about local water contamination in light of heavy rainfall and local flooding. Without any necessary updates for our model, our NOK 34 fair value estimate is unchanged. Our no-moat rating is also intact.The timing of this ...
Norsk Hydro is an aluminium group based in Norway. Co. is engaged in the supply of aluminium and aluminium products. Co. supplies casthouse products, such as extrusion ingots, sheet ingots and foundry alloys. Co's customers are active in sectors such as the packaging, lithographic, building, automotive and transport sectors. In addition, Co. is engaged in the production of power in Norway. Its business is divided into six operating segments: Bauxite & Alumina, Primary Metal, Metal Markets, Rolled Products, and Energy and Other and Eliminations.
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