Hydro to Cut Jobs, Keep Output Curbs as Chinese Imports Slide
Norsk Hydro ASA, Europe’s third- largest aluminum producer, will add to last year’s 4,500 job cuts, extend output curbs and may mothball a plant in Germany after Chinese imports of the metal fell in the fourth quarter.
“The imports are going down,” Chief Executive Officer Svein Richard Brandtzaeg said today in an interview in London. “This is one of the main reasons why we’re not planning to restart any of the production lines.”
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Source: Business Week
