United States – To focus more on its core activities such as recycling, aluminium producer Novelis is to sell its North American consumer foil products business to Reynolds Consumer Products Inc. based in Lake Forest, Illinois.
The transaction worth US$ 35 million (Euro 26 million) includes the sale of foil manufacturing plants at Toronto and Vancouver in Canada, as well as sales offices and distribution facilities at Mississauga and Montreal in Canada and also at LaGrange in the US state of Georgia.
‘The North America consumer foil products business is a successful part of our company; however, it is not aligned with Novelis’ growth strategy,’ says Marco Palmieri, senior vice president and president of Novelis North America. ‘Our primary focus is to continue our growth in the premium markets of automotive, beverage cans and specialty products, and to expand our recycling leadership.’
Over the past three years, Novelis has invested US$ 1.7 billion in global expansion to serve its core markets.
For more information, visit: www.novelis.com