OSLO, Norway, March 19, 2014 (GLOBE NEWSWIRE) -- Alberto Fabrini has been appointed executive vice president and head of the Bauxite & Alumina business area in Norsk Hydro ASA. The appointment of Fabrini, currently head of Operations in Bauxite & Alumina, will be effective June 1, 2014.
"As a Brazilian native with international experience and an impressive operational track-record in several parts of the aluminium value chain, Fabrini has the right profile for the top position in Bauxite & Alumina," says Hydro President and CEO Svein Richard Brandtzæg.
"Following the integration of the Brazilian assets in Hydro, we are now focusing our efforts and competence on lifting and stabilizing our production of high-quality bauxite and alumina and reduce cost. Based on his previous achievements, Fabrini has a solid platform to lead this improvement drive and lift operations to the next level," Brandtzæg says.
Holding degrees in mechanical engineering, environment and global management, Fabrini has broad experience in the aluminium industry, including senior Brazilian and international management positions in bauxite mining, alumina refining and aluminium smelting.
After 36 years in Hydro, Johnny Undeli, currently executive vice president and head of Bauxite & Alumina, will take up a position as special advisor to Hydro's CEO and pursue board positions. Undeli has held several management positions in Hydro, primarily in the Extruded Products business area, which he was heading before he moved to Bauxite & Alumina following the Vale acquisition.
Fabrini will join Hydro's Corporate Management Board when he takes over as executive vice president and head of Bauxite & Alumina.
Investor contact
Contact Rikard Lindqvist
Cellular +47 41751199
E-mail Rikard.Lindqvist@hydro.com
Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland@hydro.com
Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.
No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
HUG#1769711
