ATLANTA, Nov. 9, 2011 /PRNewswire/ -- Novelis, the world's
largest producer of rolled aluminum, today announced it will invest
approximately $32 million to expand
recycling capacity at its aluminum rolling and recycling complex in
Pindamonhangaba, Brazil.
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Today's announcement is in addition to a $300-million rolling mill expansion currently
under way at the plant and a further $30
million invested over the past two years to expand recycling
capacity and establish a network of used can collection centers
within the country.
"These back-to-back investments totalling more than $360 million respond to two major strategic
initiatives for Novelis – expand our production capacity in
emerging global markets and reduce our carbon footprint through
increased recycling," said Phil
Martens, President and Chief Executive Officer for Novelis
Inc.
"We recently established an ambitious goal to increase the
recycled content of our products to 80 percent by 2020 from the
current 33 percent," said Martens, "and investments such as this
are an important part of our plan to get there."
The expansion announced today will include a state-of-the-art
recycling line that will nearly double the plant's capacity to
recycle used beverage cans and other aluminum scrap from 200,000
metric tons per year to 390,000 tons per year. The new line, which
is expected to come on stream in late 2013, will help to ensure
metal supply for the plant's rolling mills while reducing operating
costs and delivering environmental benefits. Aluminum recycling
uses only 5 percent of the energy and greenhouse gas emissions
required to produce primary aluminum.
"Novelis is the leading producer of flat rolled aluminum
products in South America and the
largest recycler of beverage cans," said Marco Palmieri, Senior Vice President of Novelis
Inc. and President, Novelis South America. "Novelis has had a long,
successful history in Brazil and
these investments are further evidence of our commitment to
strengthen our market leadership in the region."
Forward-Looking Statements
Statements made in this news release describing Novelis'
intentions, expectations or predictions may be forward-looking
statements within the meaning of securities laws. Examples of
forward-looking statements in this news release include those
regarding Novelis' expectations about the anticipated capacity
increase resulting from our investment and the expected completion
date of the project. Novelis cautions that, by their nature,
forward-looking statements involve risk and uncertainty. We do not
intend, and we disclaim any obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Important risk factors which could
impact outcomes are included under the caption "Risk Factors" in
our Annual Report on Form 10-K for the year ended March 31, 2011, and our Quarterly Report on Form
10-Q for the quarter ended June 30,
2011.
About Novelis
Novelis Inc. is the global leader in aluminum rolled products
and aluminum can recycling. The Company operates in 11
countries, has nearly 11,000 employees and reported revenue of
$10.6 billion in fiscal year 2011.
Novelis supplies premium aluminum sheet and foil products to
automotive, transportation, packaging, construction, industrial,
electronics and printing markets throughout North America, Europe, Asia,
and South America. Novelis
is a subsidiary of Hindalco Industries Limited (BSE: HINDALCO), one
of Asia's largest integrated
producers of aluminum and a leading copper producer. Hindalco
is a flagship company of the Aditya Birla Group, a multinational
conglomerate based in Mumbai,
India. For more information, please visit
www.novelis.com.
SOURCE Novelis