More auto heat-treat capacity needed: Novelis
May 14, 2013 | 05:14 PM
| Michael Cowden
CHICAGO Novelis Inc. sees additional automotive aluminum sheet finishing capacity as necessary in the United States despite announced expansions from competitors, president and chief executive officer Philip Martens said.
Novelis expects to see a compound annual growth rate of about 25 percent for automotive aluminum between 2012 and 2017 as the material becomes the "clear metal of choice" to help automakers meet fuel economy requirements, he said during a conference call on the companys earnings results.
Pittsburgh-based Alcoa Inc. has announced plans to invest $275 million over the next three years to boost aluminum sheet capacity at its rolling mill in Alcoa, Tenn. The aluminum producer has also announced a $300-million expansion at its operations in Davenport, Iowa, which is expected to be complete by the end of 2013. The company has said the expansion at Davenport wont be enough to keep up with forecast demand from the automotive industry (amm.com, May 2).....
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