OSLO, NORWAY--(Marketwire - Aug 28, 2012) - The State of Pará in Brazil has decided
that, effective from September
10, 2012, ICMS tax will again be collected from the fuel oil
distributors, exempting Hydro's alumina refinery Alunorte from the ICMS
A change took place March 1, 2012, changing the collection point for ICMS
from distributors to oil refineries. As reported for second quarter 2012
increased Alunorte's costs by approximately NOK 150 million for the
The amendments now decided by the Governor of Pará will exempt
Alunorte from the
ICMS tax on fuel oil, as was also the case prior to March 1, 2012.
Certain statements included within this announcement contain
forward-looking information, ncluding, without limitation, those relating
to (a) forecasts,
projections and estimates, (b) statements of management's plans, objectives
strategies for Hydro, such as planned expansions, investments or other
(c) targeted production volumes and costs, capacities or rates, start-up
cost reductions and profit objectives, (d) various expectations about
developments in Hydro's markets, particularly prices, supply and demand and
competition, (e) results of operations, (f) margins, (g) growth rates, (h)
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
extent to which a particular projection is realized. Factors that could
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
demand for aluminium and aluminium products; world economic growth,
rates of inflation and industrial production; changes in the relative value
currencies and the value of commodity contracts; trends in Hydro's key
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
5-12 of the Norwegian Securities Trading Act.
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originality of the information contained therein.
Source: Norsk Hydro via Thomson Reuters ONE