Norsk Hydro is presently negotiating with the German company E.ON to acquire their subsidiary VAW.
VAW is one of the leading aluminium companies in Europe, particularly strong within rolled products. Hydro Light Metals and VAW complement each other well, and if combined they will create the leading aluminium company in Europe with a strong platform for further growth.
Further negotiations including due diligence, are expected to be finalized during first quarter 2002.
Please ZZZ YDZ FRP find further information on the two companies atZZZ K\GUR FRP and at respectively.
Certain statements in this press release are or may constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not in the nature of historical facts may be deemed to be forward-looking statements and may contain identifying words such as "believes", "anticipates", "plans", "expects" and similar expressions. These forward looking statements are based on Hydro's current expectations, assumptions, estimates and projections about the company and the industries in which it engages in business. All forward-looking statements involve risks and uncertainties. For a detailed description of factors that could cause Hydro's actual results to differ materially from those expressed in or implied by such statements, please refer to its annual report on Form 20-F for the year-ended December 31, 2000 and subsequent filings on Form 6-K with the U.S. Securities and Exchange Commission.