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Shop stewards are reacting strongly to Norsk Hydro selling the rolling mill business.
RESPONDS STRONG: Federal Energy Industry Leader, Frode Alfheim.
Carina johansen
On Friday morning, it was announced that Hydro will sell its mills for NOK 14.2 billion to the US special fund KPS Capital Partners.
– We totally disagree with this decision, it takes our company in the wrong direction, says chief union steward Sten Roar Martinsen, who is also an employee representative on the board.
Martinsen says that low profitability is the majority’s main argument for sales. It says the employees “in no way” agree with that description.
Industri Energi union leader Frode Alfheim believes that Hydro’s board is now selling high-tech green jobs that would be strategically important to the company.
– Now the Minister of Commerce and Industry must come to the fore. We demand that politicians step in and stop the sale, in order to safeguard future-oriented green and profitable jobs in Norway, says Alfheim.
ROLLER PLANT FOR SALE: On Friday morning, news came that Norsk Hydro was selling its rolling mill business.
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Uncertain working conditions
Recently, trade unions, the mayors of several municipalities with hydroelectric activities and the opposition have been concerned about the sale of Norwegian mills.
– I am very disappointed that they turn their back on profitable Norwegian jobs. I hope they have now chosen a buyer who is long-term and wants to further develop the technology and jobs in the township they believe, Mayor Elin Great Weggersund in Holmestrand tells E24 on Friday.
The municipality has a rolling mill with 400 employees.
– When a new owner arrives, we hope it is someone who wants to invest and be a long-term owner. Preferably 50 years in advance, so it doesn’t create a new round of uncertainty for factory employees.
She says there is uncertainty associated with working conditions that is perceived as stressful.
– They have still managed to keep production and get up anyway, so they are very capable, she says.
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Believe the sale is necessary
Hydro has struggled to make money in the mobile business and believes the sale is necessary to focus on growth in other areas.
– Hydro initiated a strategic review of the Rolling business area in 2019, along with other strategic measures to increase profitability and sustainability. We are now done, and Rolling’s business area will continue to develop under new ownership, says Hydro CEO Hilde Merete Aasheim.
– This is a good solution, both for Hydro and for Rolling employees, who will continue the work and grow even more in a new and pure company, he says.
In a column published in E24, Hydro’s CEO writes that restructuring has been the key to Hydro’s success for 115 years.
Chief Nito: – Tragic
– I think this is tragic. It is an experience that Hydro is a major Norwegian industrial company and that it is now selling its gold. Hydro Rolling has a billion in profits and accounts for up to 17 percent of profits, says Trond Markussen of the engineering organization Nito.
Trond Markussen heads the Norwegian Engineering and Technology Organization, Nito.
Carina Johnsen, NTB scanpix
In addition, he says that all Norwegian unions are against a sale, which he considers a strong signal.
– What we are not sure of is what they want to do with the action in Norway. We still have the jobs, but it is not known what they will do with the Norwegian business in the long term, if it will be sold or if it will be liquidated.
Among the questions employees have are their pension rights.
– Hydro is an industrial company, an equity fund that KPS Capital Partners often has a slightly different objective than what they do.
Markussen further notes that Hydro Rolling has emerged as the company’s environmental beacon and that all aluminum recycling in the Norwegian market has been done through Hydro.
– They imagined moving on in Scandinavia. We thought this was important for Norway and for Hydro. Therefore, we believe that it is completely incomprehensible that they now have to get rid of the important and green part of the company.
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“Reacts in disbelief”
Fellesforbundet organizes more than 240 employees in the Holmstrand rolling mill. Federation leader Jørn Eggum reacts to the sale:
– I react in disbelief to the news that Norsk Hydro is selling its mills to a US fund, says Fellesforbundet leader Jørn Eggum.
The leader of Fellesforbundet, Jørn Eggum.
Ørn E. Borgen
He believes that the rolling mills should remain at Norsk Hydro.
– Norsk Hydro must become a green industrial locomotive, absolutely central to the development of a new green continental industry. Rolling mills are an important piece in this. For example, all the soda cans at Holmestrand are recycled, there is a good circular economy, says Eggum.
The union leader stresses that society has defended Norsk Hydro.
– We need this experience more, and I doubt that a US acquisition fund can contribute here. The company has invested heavily in Hydro in recent years, with grants from Enova, energy rights, etc. So the answer is this? It’s out of the question, says Eggum.
The mills have several hundred employees in Norway. Eggum is worried about what is happening to them now.
– I am concerned about what this may have for employees in the future. How does the new owner plan to make money here, should he bet or cut? Business is already cut in blood, so there is little to be gained that way. And what about the pension rights of employees at Hydro?
