To adapt to the fast-deteriorating market, Hydro has announced it will postpone the restart of 95 000mt capacity at the Husnes aluminium plant in Norway.

The ramp-up was originally planned to start in the first half of 2020 but is now postponed to the Q3 2020 at the earliest, pending market developments and outlook into the second half of the year.

Hydro is also taking measures to reduce cost across the company, including forced vacations, delaying projects, and temporary layoffs. In total, Hydro has had to temporarily lay off around 1 400 employees as government-imposed restrictions and deteriorating demand have led to closures and reduced production at several plants.

“Hydro’s top priority now is health and safety, while keeping the wheels turning, maintaining operations and generating cash,” says President and CEO, Hilde Merete Aasheim. “At the same time, we need to think ahead and position the company for the future as a robust and profitable industry leader, built on innovation and sustainability.”