BURMESTER TO LEAVE AFTER SUCCESSFUL INTEGRATION

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BURMESTER TO LEAVE AFTER SUCCESSFUL INTEGRATION
02 July 2002 - Hydro Aluminium

After almost five years at the helm of VAW aluminium AG, Dr. Helmut Burmester has decided to disembark now that the integration period with Norsk Hydro's aluminium activities has been completed according to plan and the organizations of the new company, Hydro Aluminium, are in place both in Germany and worldwide.

Norsk Hydro ASA acquired VAW from E.ON in an agreement published 7 January this year, the acquisition being finalised 15 March. As Co-CEO with special responsibility for the integration process, Dr. Burmester has played an important role in completing this process successfully and at a record-breaking speed.

With the integration of VAW into Norsk Hydro's aluminium activities, Hydro Aluminium is now number-one in Europe, with activities providing employment for more than 33,000 people worldwide and annual sales totalling EUR 10 billion. The current CEO and President of Hydro Aluminium, Jon-Harald Nilsen, who is also a member of Norsk Hydro's corporate management board, was head of Norsk Hydro's aluminium activities before VAW came on board. Hydro Aluminium's global head office is located in Oslo, Norway.

VAW aluminium AG has now been transformed into a limited liability company (GmbH), and the new name of the company is Hydro Aluminium Deutschland GmbH. Dr. Dieter Braun, head of the business sector Hydro Aluminium Automotive with responsibility for the sector's global automotive activities, has been appointed head of the German company. During the coming autumn, Hydro Aluminium's management in Germany will move from VAW's present offices in Bonn to new offices in Cologne.

'Today, we have reached an important milestone in the establishment of the new Hydro Aluminium, the first integration phase of VAW now having been completed. The company is all set to realize its ambitions of becoming an innovative global force in the aluminium industry and of creating new values for our shareholders, customers and employees, says the CEO of Norsk Hydro, Eivind Reiten.

'We are very grateful for the efforts Dr. Burmester has made during this integration process. He is leaving behind him a well-run ship, VAW having achieved the best results ever in 2001. We would also like to thank him for the significant contributions he has made to the development of VAW, the fruits of which Hydro will now be able to harvest and cultivate,' says Reiten.

About: Hydro Aluminium

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