Norwegian aluminium giant Norsk Hydro said Monday it was considering cutting production as demand, especially in the key construction and car industries, has been hit by the global financial crisis.

`The international financial crisis has hit the metal industry,` Hilde Aasheim, the executive vice president in charge of Hydro`s Aluminium Metal business, said in a statement.

Norwegian aluminium giant Norsk Hydro said Monday it was considering cutting production as demand, especially in the key construction and car industries, has been hit by the global financial crisis.

`The international financial crisis has hit the metal industry,` Hilde Aasheim, the executive vice president in charge of Hydro`s Aluminium Metal business, said in a statement.

Norwegian aluminium producer Norsk Hydro published on Tuesday third-quarter results which fell far short of analyst expectations, blaming the global financial crisis and warning it would impact coming quarters as well.

OSLO, July 22, 2008 (AFP) - Norwegian aluminium producer Norsk Hydro said on Tuesday that profit margins crumbled in the second quarter amid rising costs and despite strong prices for its products.

OSLO, Oct 1, 2007 (AFP) - Norwegian oil and gas group Statoil has sealed a deal to buy the hydrocarbon activities of Norsk Hydro to form one of the biggest groups in the sector in Europe, the two companies announced Monday.

The deal, based on a share swap, is valued at 191.5 billion Norwegian kroner (24.9 billion euros, 35.5 billion dollars) based on Friday's closing price.

The new company, to be called StatoilHydro, is expected to be among the top 10 oil groups in the world and a leader in deep-water offshore production.

OSLO, Aug 27, 2007 (AFP) - Norwegian conglomerate Norsk Hydro said Monday it had reached an agreement with Chevron to buy the US group's interests in deep-sea heavy oil projects in British waters.

No financial details were given, but Hydro said the deal would see it acquire a 64.6-percent stake in the Bressay field, and a 45-percent stake in the Mariner field.

While the fields had been probed by many wells, Hydro said 'there are still uncertainties related to the potential recoverable reserves.'