Hydro CEO Sees Hope for North America Extrusion Demand as Earnings Miss

Aluminum maker Norsk Hydro ASA said there are signs that demand in North America for so-called extrusion products is set to strengthen, after third-quarter earnings missed analyst estimates.

Any pickup in economic activity could boost demand as customers are depleting their stocks “quite significantly as we get closer to year end,” Chief Executive Officer Eivind Kallevik said in an interview. Sales of those products have languished, with fewer commercial trailers being built and weak automotive demand in North America, coupled with a decline in light vehicle production in Europe.