Novelis to boost capacity in Europe, US
Dec 17, 2013 | 05:32 PM
| Michael Cowden
CHICAGO Novelis Inc. plans to spend $205 million to boost automotive capacity in North America and Europe.
The Atlanta-based aluminum products maker said it will add a new finishing line at its plant in Oswego, N.Y., and another at its operations in Nachterstedt, Germany, each with a capacity of 120,000 tonnes per year.
Both lines are expected to be commissioned in late 2015 and will lift Novelis global automotive sheet capacity to 900,000 tonnes per year, a threefold jump from a year ago, Novelis said.
With the two new lines, Novelis has invested nearly $550 million to increase global automotive capacity in just the last two years, Novelis president and chief executive officer Phil Martens said in a statement. "This commitment ... strengthens our recognized leadership position as the partner of choice for world-class automotive manufacturers," Martens said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.