Norsk HydroNorsk Hydro ASA is a Norwegian oil and energy and integrated aluminium company, headquartered in Oslo. The company was founded on December 2, 1905 by Sam Eyde, exploiting a novel technology for producing artificial fertilizers by fixing nitrogen from air. The technology had been developed by the Norwegian scientist Kristian Birkeland. Norsk Hydro's first factory was build at Notodden followed up with another at Rjukan, Tinn. Norsk Hydro's fertilizer business was spun off as a separately stock-listed company under the name of Yara on March 26 2004. Norsk Hydro distributed all its Yara shares to Norsk Hydro's shareholders and presently has no ownership in Yara. Norsk Hydro presently has two core businesses, Oil and Energy and Aluminium. The company is the second largest Oil and Gas operator on the Norwegian continental shelf and the third largest integrated aluminium company world wide. In 1999 Norsk hydro acquired another Norwegian oil and gas company Saga Petroleum, and in 2002 Norsk Hydro acquired the leading German aluminium producer VAW from the German utility company E.on. Norsk Hydro has operations in some 50 countries around the world and is active on all continents. The Norwegian state holds a 44 percent ownership interest in the company. There are total of 38,271 employees. From 2001, Eivind Reiten has been the CEO. During the Second World War the Rjukan plant was the only location in Europe which produced heavy water, and consequently was the target of several commando and air raids which eventually resulted in the plant's destruction and later reconstruction. (This story was portrayed in the Kirk Douglas movie The Heroes of Telemark). External links
Categories: Companies of Norway |
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