BlueNord ASA 2011 AR2
The report highlights Norwegian Energy Company ASA's (Noreco) performance and restructuring efforts during the fiscal year 2011. Facing financial and operational challenges, the company implemented a turnaround plan that included NOK 2 billion in asset sales, NOK 1 billion in debt repayment, and a 20 percent reduction in administration costs. Operationally, Noreco progressed its Oselvar and Huntington developments toward production start-up in 2012 and maintained a strong focus on health, safety, environment, and quality (HSEQ). The company also streamlined its organization, reducing its workforce by 28 percent to 72 employees by year-end while maintaining a low sick leave rate of 2.5 percent.
Company: BlueNord ASA
Sector: Mining & quarrying
Country: Norway
Year: 2011
Type: AR2
Pages: 69
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BlueNord ASA
Annual Report
The report highlights Norwegian Energy Company ASA's (Noreco) performance and restructuring efforts during the fiscal year 2011. Facing financial and operational challenges, the company implemented a turnaround plan that included NOK 2 billion in asset sales, NOK 1 billion in debt repayment, and a 20 percent reduction in administration costs. Operationally, Noreco progressed its Oselvar and Huntington developments toward production start-up in 2012 and maintained a strong focus on health, safety, environment, and quality (HSEQ). The company also streamlined its organization, reducing its workforce by 28 percent to 72 employees by year-end while maintaining a low sick leave rate of 2.5 percent.
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Document Details
Report Year
2011
Reporting Period
Jan 1, 2011 - Dec 31, 2011
Fiscal Year
2011
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Women on Board
Women in Management
Employees