Annapolis, MD (March 15, 2004) - Anne Arundel County Executive Janet S. Owens today announced that Norsk Hydro ASA, based in Oslo, Norway, will transfer holding company functions from Tampa, Florida to Linthicum. The new unit, Norsk Hydro North America, will expand the headquarters operations of Hydro Aluminum North America, already located in the BWI Corporate Center and will provide corporate and administrative services to most of Hydro's North American offices. It will be fully operational by the first of June. "The Hydro announcement is an indication of the growing number of international companies and headquarters that have chosen Anne Arundel County as their home," Ms. Owens said. Norsk Hydro North America will be headed by Martin Carter, who will also retain his position as President of Hydro Aluminum North America, the largest Hydro unit operating on the continent. "In addition to providing corporate services for Hydro Aluminum North America, we will be supporting Hydro Aluminum Automotive's North American operations, the US and Canadian Oil & Energy units, certain magnesium operations, and the five US locations of Nordisk Aviation Products," said Carter. Key functions of the new unit include tax services, legal counsel, and benefits administration. Previously, these functions were provided by a Hydro unit based in Tampa Florida, which is being dissolved in conjunction with the demerger of the company's Agri unit. Additional functions performed by the Tampa unit will be absorbed by the Hydro Aluminum North America staff. "The decision to establish Norsk Hydro North America here in the Baltimore area was a relatively easy one," said Carter. "Co-locating with the Hydro Aluminum North America headquarters will enhance both organizational and cost effectiveness. And, since establishing the Hydro Aluminum North America headquarters here in 2002, we have found the area an excellent base for our business." About Hydro Hydro is a Fortune 500 energy and aluminum supplier operating in more than 40 countries. In North America, the company operates 32 facilities and has roughly 5000 employees. For more information, please visit: www.hydro.com |
