Tag Archives: Hydro

EuropeanCEO: Norsk Hydro Hilde Merete Aasheim shows her mettle

The prominence given to environmental issues of late has placed a harsh spotlight on the commodities sector. The planet’s raw materials are finite, and harvesting them can often be cheaper than recycling. The environmental cost is usually ignored.

Nevertheless, the aluminium industry has not performed too badly in terms of sustainability. A staggering 75 percent of all the aluminium ever produced is still in use today. Still, demand for the metal is growing at such a rapid rate that mining projects continue to be an important source of the commodity. According to market research firm IndustryARC, the global demand for aluminium is set to expand by a compound annual growth rate of 4.2 percent between 2019 and 2025.

Given that global demand cannot be satisfied by recycled aluminium alone, a great deal of environmental responsibility still resides with mining firms producing this valuable commodity. One of the world’s largest, Norsk Hydro, employs 35,000 people across 40 countries and is present across all continents.

Read entire article HERE.

Bloomberg: NASA Says Metals Fraud Caused $700 Million Satellite Failure

A metals manufacturer faked test results and provided faulty materials to NASA, causing more than $700 million in losses and two failed satellite launch missions, according to an investigation by the U.S. space agency.

The fraud involved an Oregon company called Sapa Profiles Inc., which falsified thousands of certifications for aluminum parts over 19 years for hundreds of customers, including NASA.

News of the satellite failures comes a week after Norsk Hydro ASA, the current parent company of Sapa, agreed to pay $46 million to NASA, the Department of Defense and others to resolve criminal charges and civil claims related to the fraud, which took place from 1996 to 2015.

A spokesman for Norsk Hydro said the case has been settled. Last week, it said it has invested “significant time and resources to completely overhaul our quality and compliance organizations.”

Read entire article HERE.