Norwegian aluminium group Norsk Hydro (NHY.OL: Quote) has no plans for production cuts beyond curtailments already announced, its chief executive said on Thursday.
The company has cut or announced plans to cut by half a million tonnes of primary aluminium, equal to almost 30 percent of 2008 output, to adjust to weak demand in the global economic downturn.
We have no plans to cut beyond what we have cut, Chief Executive Svein Richard Brandtzaeg told Reuters on the sidelines of an event marking Hydro's 100 years on the Oslo bourse.
There is a better balance between production and demand in our aluminium products business, he said. We see some positive signs in that business.
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