Inc. has completed a $400-million expansion at its aluminum
rolling mills in South Korea, the company said.
aluminum producer said the expansion of its plants in Yeongju
and Ulsan, South Korea, will add 200 employees and increase its
capacity in the region by more than 50 percent to approximately
1 million tonnes of aluminum sheet per year.
The expansion includes
a hot-rolling finishing mill, a cold mill, a pusher furnace, a
high-speed slitter and annealing furnaces. The expansion
complements a recycling and casting center, also in Yeongju (
amm.com, Oct. 24), which opened in October
"Asia is the largest
and fastest-growing region in the world for aluminum, and this
expansion allows us to maintain our leadership in this dynamic
region across key markets such as beverage cans, consumer
electronics and automobiles," Novelis president and chief
executive officer Philip Martens said in a statement Oct.
The expansion will
allow Novelis to supply coils to its new automotive sheet
finishing plant in Changzhou, China (
amm.com, Nov. 7), which is expected to enter
production in mid-2014, Novelis Asia senior vice president and
president Shashi Maudgal said in a statement. It also will
allow Novelis to chase business in value-added markets, such as
consumer electronics, that require a high-quality surface
finish, he said.
demand in Asia is expected to see a compound annual growth rate
of more than 25 percent per year for the next five years as
automakers look to build lighter, more fuel-efficient vehicles,
Novelis said. The South Korea expansion will help it meet that
demand, the company said.
expanding its aluminum rolling and recycling facilities in 2011
to meet growing Asian demand for flat-rolled, value-added
products. The hot- and cold-rolling mills in South Korea began
commissioning in July (
amm.com, Aug. 12)