ATLANTA, April 23, 2013 /PRNewswire/ -- Novelis today
announced price increases on its automotive aluminum sheet products
in North America. The fabrication price will increase
by $0.13 per pound for 5182-series and 5754-series automotive
alloys, and by $0.09 per pound for
6000-series automotive alloys.
The price changes are effective immediately for all new orders
on or after April 23, 2013. Novelis
fabrication pricing for specified volumes under current supply
agreements will be honored for the contract period.
"This increase reflects the prevailing tight supply situation
and strong demand," said Tom
Walpole, President, Novelis North America. "Given the
market dynamics, we also expect to see an upward trend in metal
premiums and production costs."
"We are on track with our 200,000 tonnes/year automotive
capacity expansion that will come on-line in Oswego, New York, in 2014," added Walpole,
"and we remain committed to being the aluminum sheet leader in the
automotive industry."
About Novelis
Novelis Inc. is the global leader in
aluminum rolling and recycling. For fiscal year 2012, the
company operated in 11 countries, had more than 11,000 employees
and reported revenue of $11.1
billion. Novelis supplies premium aluminum sheet and foil
products to automotive, transportation, packaging, construction,
industrial, electronics and printing markets throughout
North America, Europe, Asia
and South America. Novelis is a subsidiary of Hindalco
Industries Limited (BSE: HINDALCO), one of Asia's largest integrated producers of
aluminum and a leading copper producer. Hindalco is a
flagship company of the Aditya Birla Group, a multinational
conglomerate based in Mumbai,
India. For more information, visit
www.novelis.com and follow us on Twitter at
twitter.com/Novelis.
Forward-Looking Statements
Statements made in this
news release which describe Novelis' intentions, expectations or
predictions may be forward-looking statements within the meaning of
securities laws. Examples of forward-looking statements in this
news release include the anticipated capacity of our automotive
expansion project in Oswego, New
York. Novelis cautions that, by their nature,
forward-looking statements involve risk and uncertainty. We do not
intend, and we disclaim any obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Important risk factors which could
impact outcomes are included under the caption "Risk Factors" in
our Annual Report on Form 10-K for the year ended March 31, 2012, and our Quarterly Report on Form
10-Q for the quarter ended December 30,
2012
SOURCE Novelis