United States – A robust start to the new fiscal year at aluminium rolling and recycling specialist Novelis was driven by ‘excellent plant productivity, strong winter results in South America boosted by World Cup beverage consumption, and good year-over-year demand trends’, according to president and ceo Phil Martens.
In its first quarter, the company′s net income soared to US$ 35 million – an increase of 150% when compared to the same period last year – while sales climbed 12% to US$ 2.7 billion. ′Demand trends continue to be favourable and our investments in rolling, recycling and automotive sheet finishing lines have positioned the company well to capture growth in our core can sheet and specialty markets as well as the emerging automotive business,′ Martens goes on to note.
Novelis′ new recycling centres in Germany and Brazil are ′ramping up production′ and ′will help the company achieve its mid-decade target of 50% recycled aluminium in its products on the way to its ultimate goal of 80% recycled content by 2020′, it is added in the company′s latest financial results.
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