Novelis to start recycling facility in South Korea ahead of schedule

Aug 14, 2012 | 05:18 PM | Suzy Waite

Tags  Novelis, Phil Martens, first quarter fiscal 2013 earnings, Suzy Waite

NEW YORK — Novelis Inc. has pushed up the start of its South Korean aluminum recycling facility to September.

The company had expected to complete the $50-million greenfield recycling center by October, but due to quicker-than-expected turnarounds, operations will be brought online ahead of schedule, president and chief executive officer Phil Martens said on a call following the release of the company’s fiscal first-quarter earnings Tuesday.

"It’s actually being operationalized this week and will start to produce over the next month," Martens told AMM. "As a result of the skilled work force, quick turnarounds on equipment purchases and good working commission, this (recycling) expansion will be completed ahead of schedule. This will allow our Asian operations to benefit from incremental recycling capacity that we did not expect to have at this time."....

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