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Novelis logs net loss as shipments dip

February 08, 2012 - 23:41 GMT Location: New York

KEYWORDS: Novelis , aluminum , Philip Martens , automotive , beverage can sheet , electronics , Asia , North America , Europe

Novelis Inc. reported a $12-million net loss in the third quarter of its fiscal 2012 due to a decrease in shipments as customers destocked in Europe and continued weakness in the company’s electronics business in Asia.

Shipments of aluminum rolled products totaled 648,000 tonnes in the three months ended Dec. 31, down 9.4 percent from the 715,000 tonnes shipped in the same quarter last year.

But despite posting a net loss, the Atlanta-based aluminum company’s results still...

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