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Novelis shifts Asia focus to can mart

February 09, 2012 - 02:50 GMT Location: New York

KEYWORDS: Novelis , Philip Martens , aluminum , beverage can , automotive , China , destocking , television , large screen televisions

Novelis Inc. has shifted its focus in Asia from electronics to beverage cans, an end-use market showing some positive signs, the company’s top executive said.

Globally, Novelis is anticipating 4- to 5-percent growth in can stock demand over the next five years, Martens said.

The company’s Asian operations had been largely focussed on the large-screen television market, but consumer destocking in the United States and Europe led to lower-than-expected shipments for the company in its third fiscal quarter.

"A big part of our Asian portfolio was allocated to the electronic sector, primarily LED and LCD TV screens. To a certain degree, that was hit first by the economic pullback in the U.S., then Europe and domestic China," Martens said.

Novelis has adjusted its capacity for...

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