Global – ‘Leveraging our unmatched global manufacturing footprint, innovative technology and closed-loop recycling systems, Novelis has become a preferred choice for automotive aluminium sheet,’ declares the company’s president and ceo Steve Fisher in reporting a ‘strong’ operational performance by the business in the first quarter of its latest financial year.
Year on year, the aluminium rolling and recycling specialist more than tripled its net income to US$ 103 million while shipments of 785 000 tonnes represented an increase of 4%, with shipments of higher conversion premium automotive products bettering the average in jumping 16%.
‘Our automotive strategy, enhanced operational performance and strong customer relationships resulted in record first quarter shipments, Fisher maintains. ‘As more and more automakers turn to aluminium solutions to produce the next generation of vehicles, we are actively looking at opportunities to increase capacity to support our customers and reinforce our leadership position in this growing market.’
Novelis’ net sales climbed 16% year on year to US$ 2.7 billion in the first quarter of the 2017/18 fiscal period.