Novelis posts stronger net income despite challenges
May 14, 2013 | 03:18 PM
| Michael Cowden
CHICAGO Novelis Inc.s profits surged despite lower average aluminum prices, lower shipments and disruptions at its North American operations.
The headwinds included the implementation of a new enterprise resource planning system (ERP) at two of its North American plants and a fire at its Oswego, N.Y., aluminum complex (amm.com, Feb. 14), but the Atlanta-based producer still managed to swing to a profit in its fiscal fourth quarter due to stronger demand and good cost-control measures.
Novelis posted net income of $203 million for its fiscal year ended March 31, more than double $90 million the previous, even as revenue slipped 11.3 percent to $9.81 billion.....
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