Can fight dents Novelis as execs pivot to auto

Nov 11, 2013 | 12:09 PM | Michael Cowden

Tags  aluminum, Novelis, Philip Martens, earnings report, beverage can, automotive aluminum, Michael Cowden

CHICAGO — Novelis Inc.’s net income narrowed in its fiscal second quarter as overcapacity and fierce competition in the North American beverage can market dented results.

But the Atlanta-based aluminum roller and recycler predicted a bright fiscal second half as its capacity shifts from the lower-margin beverage can market, hurt in North America by declining soft drink sales, to the more-profitable auto sector, where there is increased aluminum demand due to stricter fuel economy standards, the company said Nov. 11.....

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