Hydro and Talum Enter Metal Supply Agreement
Hydro Aluminum, Oslo, Norway, entered into a long-term purchase agreement with the Slovenian aluminum producer Talum for foundry alloy casthouse products. Talum will supply Hydro with an average of 70,000 tons of foundry alloy products per year over the next seven years. This new supply contract comes in addition to the ongoing agreement under which Hydro annually purchases approximately 50,000 tons of extrusion ingot from Talum. The new purchase agreement with start in January 2004 and run through 2010.