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Hydro Rebrands to Signal Company Change
OSLO, Norway, Dec. 11 /PRNewswire-FirstCall/ -- Norsk Hydro presented its new
logo at the annual Capital Markets Day today, a new symbol to reflect major
changes in the company. The company's logo and visual identity have been
modernized as part of an extensive process to clarify and strengthen the Hydro
brand. The new logo will be the official Hydro symbol from the New Year and
Hydro's offices and plants will be rebranded in the course of the year.
Various versions of a Viking ship have been the key element in Hydro's logo
since its origins in 1905; the existing version has been used for the past 20
years. Hydro's fertilizer business will continue to use the Viking ship symbol
in its new logo and marketing once Agri is listed as a separate company next
year.
"A new Hydro is emerging, and it was time to take a new, fresh look at our
symbol as part of a process to define more explicitly both our identity and
direction. Through the new symbol, we hope to build on the best of our past to
support Hydro's strategies for the future," said Cecilie Ditlev-Simonsen, head
of Corporate Communications at Hydro.
During the past few years, Hydro has gone through massive changes, doubling its
oil and gas production, doubling and transforming its aluminium business and
becoming a much more international company with two-thirds of its employees
based outside of Norway. Following a portfolio review, Hydro decided earlier
this year to concentrate on developing Oil & Energy and Aluminium going forward,
while establishing Agri as a separately listed company.
Hydro defines "brand" as the promise it makes to strengthen stakeholder
relations, based on its identity and value creating potential. There are three
pillars of the Hydro brand: A mission, a set of institutional talents across the
business areas and common values. Hydro's mission is: "Hydro creates a more
viable society by developing natural resources and products in innovative and
efficient ways."
"Hydro has an amazing history of achievements in terms of business results,
courageous investments, innovative solutions and a strong culture. It's time we
make a more conscious effort to communicate what makes Hydro Hydro and how we
make a difference to customers and society in general," Ditlev-Simonsen said.
"Strong brands can charge a premium, have credibility when expanding into new
business areas and manage to attract and retain investors as well as talented
employees."
Hydro's new logo and overall design principles have been designed by Gene
Grossman of Siegel & Gale, a U.S. brand consultancy. Grossman has directed
corporate identification programs for world-class brands such as Coca-Cola,
Exxon, Texaco, Hilton Hotels, Dell Computers and Lockheed-Martin.
Certain statements in this press release are or may constitute "forward-looking"
statements within the meaning of the Private Securities Litigation Reform Act of
1995. Statements that are not in the nature of historical facts may be deemed to
be forward-looking statements and may contain identifying words such as
"believes", "anticipates", "plans", "expects" and similar expressions. These
forward looking statements are based on Hydro's current expectations,
assumptions, estimates and projections about the company and the industries in
which it engages in business. All forward- looking statements involve risks and
uncertainties. For a detailed description of factors that could cause Hydro's
actual results to differ materially from those expressed in or implied by such
statements, please refer to its annual report on Form 20-F for the year-ended
December 31, 2002 and subsequent filings on Form 6-K with the U.S. Securities
and Exchange Commission. With respect to each non-GAAP financial measure Hydro
uses in connection with its financial reporting and other public communications,
Hydro provides a presentation of what Hydro believes to be the most directly
comparable GAAP financial measure and a reconciliation between the non-GAAP and
GAAP measures. This information can be found in Hydro's earnings press releases,
quarterly reports and other written communications, all of which have been
posted to Hydro's website (http://www.hydro.com/).
DATASOURCE: Norsk Hydro
CONTACT: Cecilie Ditlev-Simonsen, Norsk Hydro, +47-22-53-20-97, or
Cellular, +47-41-55-92-50,
Web site: http://www.hydro.com/