Reuters reported that Norwegian aluminum producer Norsk Hydro would write down asset values by NOK 1.3 billion most of it related to its Kurri Kurri plant in Australia.

The company said that the measures would weigh on its fourth quarter results due on February 16th 2012. The impairments are a result of a weakening in certain markets and low prices in combination with raw material and currency pressures.

(Sourced from Reuters)