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Hydro Agri and Hydro Business Partner agree to continue customer-supplier relationship

October 27, 2003, 15:00 CET

One step in the preparations for establishing Hydro Agri as a separate listed company has been the signing of independent commercial agreements on the delivery of IS/IT and maintenance services between Hydro Agri and Hydro Business Partner. These will replace previous internal agreements.

Hydro Business Partner will deliver IT/IS services to the new Agri company all over the world. The agreement for maintenance services covers the Norwegian production plants - Porsgrunn, Glomfjord and Rjukan.

The agreements that have now been signed reflect both Hydro Agri's need to ensure optimal, competitive coverage of critical deliveries and Hydro Business Partner's objective of being a competitive provider of services within these areas.

Several of Hydro Business Partner's business areas have a significant external turnover. Once Agri is an independent company, the share of external trade will increase significantly, it was stated in announcement made to the press on Monday.

IN BRIEF

  • Hydro Agri is the world's leading supplier of mineral fertilizer with particular strength in ammonia and nitrogen fertilizer. Hydro Agri has a local presence in more than 50 countries and sold 21.7 million tonnes of fertilizer to customers in 120 countries last year through its world-wide sales and distribution system. In June 2003, Norsk Hydro's board decided to prepare for a spin-off of Agri as an independent company to be listed on the Oslo Stock Exchange in 2004.

  • Hydro Business Partner was established in 2000 as Hydro's internal, commercial supplier of support and services, and had a turnover of NOK 3.7 billion in 2002. Hydro Business Partner delivers services in the following product areas: IT/IS, maintenance and refractory work, offshore, accounting, office and HR administration and communication.