Novelis Increases Prices for Automotive and Specialty Aluminum Sheet Products in North America - WDRB 41 Louisville News

Novelis Increases Prices for Automotive and Specialty Aluminum Sheet Products in North America

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SOURCE Novelis Inc.

ATLANTA, Aug. 7, 2014 /PRNewswire/ -- Novelis, the world leader in aluminum rolling and recycling, today announced price increases on its North American Automotive and Specialty aluminum sheet products for all new orders effective immediately. All existing orders and firm agreements confirmed prior to August 7, 2014 will be honored throughout the contract period.

Automotive Products

Increase

6xxx series automotive alloys                              

+$0.06/lb

5xxx series automotive alloys

+$0.06/lb

Specialty Products


1xxx and 3xxx series alloys

+$0.05/lb

5xxx series

+$0.03/lb

6061-O

+$0.03/lb

The Automotive price increase is in addition to the previously announced pricing adjustment made on January 1, 2014 of $0.11 per pound for 6000-series, 5182-series and 5000-series coated Automotive alloys.

"To support the rapidly growing automotive market demand, Novelis remains committed as the industry leader in announced capacity investments in North America, Europe and Asia," said Marco Palmieri, Senior Vice President, Novelis and President, Novelis North America.  "In North America, we've commissioned two new auto finishing lines in Oswego, New York that are in full production and are completing construction of a third auto finishing line increasing our regional capacity by up to 360,000 tons per year.  That's seven times our current production capacity and an important milestone to remain the industry leader as North American automotive market demand is expected to increase twenty-fold in the next 10 years."

In addition to the Oswego expansion, the automotive finishing line in Changzhou, China, is on track to be in production in the next 90 days and will have a capacity of 120,000 tons.  The company has also broken ground on a new automotive finishing line in Nachterstedt, Germany.  When all of the new lines are commissioned by late 2015, Novelis' global automotive sheet capacity will reach about 900,000 tons per year, a three-fold increase from just a year ago.

Novelis is the world's leading provider of aluminum automotive sheet, used for making structural components and exterior body panels. Novelis aluminum can be found in more than 180 different vehicle models produced by leading automakers around the globe.

About Novelis
Novelis Inc. is the global leader in aluminum rolled products and the world's largest recycler of aluminum. The company operates in nine countries, has approximately 11,200 employees and reported revenue of approximately $10 billion for its 2014 fiscal year. Novelis supplies premium aluminum sheet and foil products to transportation, packaging, construction, industrial and consumer electronics markets throughout North America, Europe, Asia and South America. The company is part of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India. For more information, visit novelis.com and follow us at facebook.com/NovelisInc and twitter.com/Novelis.

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