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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Norsk Hydro ASA    NHY   NO0005052605

NORSK HYDRO ASA

(NHY)
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Norsk Hydro : European Union to impose antidumping duties on aluminium extrusions from China

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09/24/2020 | 03:26am EDT

Products covered by the duties are profiles, rods, bars, extruded tubes and pipes. Duty rates vary from 30.4 to 48%.

'For Hydro's around 40 extrusion plants in Europe, the antidumping action is a move that will mitigate unfair competition. For our customers, this will contribute to making sure Europe continues to have a viable extrusion industry which will still have a high level of competition due to its many competitors,' says Egil Hogna, Head of Extruded Solutions in Hydor.

The duties are an outcome of an investigation opened in February 2020. The European Commission has now found that Chinese extrusions have been sold in the European Union at prices so low that they can be considered dumping and unfair competition to domestic producers.

While the provisional duties are expected to be enforced by mid-October, the investigation of the Commission will continue and is expected to be finalized in April 2021. At that point, the tariffs may be confirmed as definitive, modified or removed. If confirmed, the tariff will normally be in place for five years.

Published: September 24, 2020

Disclaimer

Norsk Hydro ASA published this content on 24 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2020 07:24:14 UTC


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Sales 2020 135 B 14 440 M 14 440 M
Net income 2020 -2 034 M -218 M -218 M
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P/E ratio 2020 -26,5x
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Number of Analysts 17
Average target price 30,60 NOK
Last Close Price 26,47 NOK
Spread / Highest target 70,4%
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Hilde Merete Aasheim President & Chief Executive Officer
Dag Mejdell Chairman
Pål Kildemo Chief Financial Officer & Executive Vice President
Jo de Vliegher Chief Information Officer
Sten Roar Martinsen Director
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