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China aluminum mill priority for Novelis: Martens
February 11, 2012 - 00:06 GMT
Location:
New York
KEYWORDS:
aluminum
,
Novelis
,
Philip Martens
,
rolling mill
,
automotive
,
aerospace
,
aluminum sheet
,
can sheet
Flat-rolled aluminum major Novelis Inc. continues to evaluate how best to enter the Chinese market, with either the construction of a new mill or the acquisition of an existing asset a possibility, the company’s top executive said.
Novelis already serves the growing Asian market from its South Korean mills and recently opened a sales office in Shanghai, China, but the longer-term plan is to have a production facility in China, Martens said, noting that Novelis’ options include a greenfield build or an acquisition—as long as it’s the right acquisition.
"We’ll never rule out an acquisition, but we’re also conscious of the fact that Novelis has a clean manufacturing asset structure. If we were to do an acquisition, it would have to fit in without a lot of restructuring," he said.
Martens estimated that there are some 150 aluminum rolling mills in China, but he said that more than...
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Euromoney Institutional Investor PLC.
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