OSLO, Norway and XIAN, China, Sept. 25, 2002 (PRIMEZONE) -- Hydro Magnesium today officially opened its new plant at Xian in China. This is Norsk Hydro's (NYSE:NHY) first wholly-owned plant in China and marks a significant milestone in Hydro Magnesium's global production network.
Hydro Magnesium Xian Co. Ltd. includes a magnesium alloy foundry and an anode plant. Design capacity is 6,000 tonnes, but real production capacity will be in excess of 10,000 tonnes of magnesium alloys, combined with 400 tonnes of magnesium anodes per year.
The Xian plant will deliver products with high standards, based on the same rigorous operation, inspection and quality assurance procedures as at other Hydro Magnesium operations globally - in Canada, Germany and Norway. The Hydro brand is a guarantee of the product's quality.
"We are the world's leading producer of magnesium. We have decided to re-strategize our worldwide production network to secure our continued world leadership position, as well as to boost our competitiveness and profitability," Mr. Keith Jones, senior vice president of Hydro Magnesium, stated.
Over the years, Norsk Hydro has established a sizeable presence in China through its Agri, Aluminium and Petrochemical business sectors, supported by Norsk Hydro's Beijing Representee Office
Hydro Magnesium is part of Hydro Aluminium, one of the three core business areas of Norsk Hydro, a leading Norwegian based industrial group, with the core business areas Oil & Energy, Agri and Aluminium. The group has more than 50,000 employees in nearly 60 countries.