Novelis has no plans for Brazilian expansion
Dec 19, 2005 | 02:02 PM
| Rory Carroll
Novelis Inc. said Monday that it currently has no plans to invest up to $150 million to expand aluminum rolling capacity at its Pindamonhangaba plant in Brazil's Sao Paulo state, despite a recent report to the contrary.
"Novelis has no current plans to invest in cold-rolling mill expansion in Brazil," said Pierre Arseneault, vice president of strategic planning and information technology for Atlanta-based Novelis. "As we continue to focus on de-leveraging our company, our total global capital spending will be no more than $175 million for 2005, including maintenance capital."....
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