OSLO, May 13 -- A strike at Norsk Hydro's (NHY.OL: Quote) four aluminium smelters in Norway, which could have started on Wednesday, was averted after an agreement was reached between the energy industry union and the employers' organisation.
"A deal has been done," a spokesman for the union told Reuters on Wednesday. The agreement was concluded late on Tuesday.
If the parties had not reached an agreement, a strike would have started at 0400 GMT on Wednesday and could have potentially affected 1,650 employees working at Hydro's smelters in Aardal, Karmoey, Hoeyanger and Sunndal, which have a combined capacity of 765,000 tonnes a year, according to Reuters data.
Industrial action would have had "no immediate effect" on production, Hydro previously said, as it takes "weeks or months" to do a controlled downscale in production at a smelter.