FURTHER REDUCTION IN PRODUCTION AT HYDRO’S SLOVALCO PLANT

The board of directors of Hydro’s majority-owned Slovalco primary aluminum plant in Slovakia has decided to further reduce primary aluminum production at the plant. The decision will reduce production to around 60% of its capacity in order to respond to rising electricity prices, which are not showing signs of improvement in the short term.

In this respect, the decision to reduce production will affect Slovalco’s primary smelting alloy volumes. However, the multinational confirms that commitments to customers will be met from Hydro’s Norwegian production system. Slovalco’s remelting operation will also not be affected by the reduction.

Likewise, this measure will not be the last. At the end of January 2022, Hydro will carry out further reductions. This new measure of lowering capacity to 60% corresponds to an additional annual reduction of 35,000 tons of production.

Slovalco is a fully consolidated aluminum smelter in Hydro, owned 55.3% by Hydro Aluminium AS and 44.7% by Penta Investments Group. Slovalco has an annual production capacity of 175,000 tons of primary aluminum and a smelting capacity of approximately 250,000 tons.