Norwegian aluminum producer Norsk Hydro has issued a second force majeure for aluminum deliveries from the Qatalum joint venture after Qatalum terminated an agreement granting Hydro the right to market and sell the company's aluminum, Reuters reports.
According to Norsk Hydro, the company is contesting the termination and states that Qatalum has announced that no metal deliveries will take place under the current agreements. Hydro therefore warns that delivery commitments to customers cannot be met, even if the situation in the Middle East improves.
The previous force majeure issued in March following disruptions in the gas supply to the facility remains in effect. Hydro states that it is not yet possible to assess how long the situation will persist or its full consequences.
Norsk Hydro ASA is one of the world's leading producers of aluminium and energy. Net sales break down by activity as follows:
- manufacturing of aluminium products (44.6%): primarily extruded aluminium profiles, rolled aluminium products, tubes, sheet metal, construction metals, automotive components, etc.;
- sale and trading of aluminium (36.4%);
- production and refining of aluminium (16.6%): bauxite and alumina, raw aluminium and aluminium foundry products;
- production and distribution of energy (2.4%): electricity (No. 2 producer in Norway) and hydroelectric power.
Net are distributed geographically as follows: Norway (5.9%), Germany (9.5%), Poland (4.2%), France (3.9%), European Union (12.9%), Switzerland (6.9%), the United Kingdom (2.3%), Europe (7.9%), the United States (22.3%), Americas (7.7%), Japan (3.6%), China (2.6%), Asia and the Middle East (10.3%).
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