Novelis keeps growth options open for fiscal 2018

Novelis has touted the earnings results for its fiscal third quarter 2018 as a solid baseline for considering future growth options, top executives said during a conference call Thursday February 1.

Also on Thursday, Novelis announced a joint venture with Constellium NV to administer shared infrastructure activities across Novelis’ aluminium plant in Sierre, Switzerland. Novelis has agreed to acquire previously leased operating facilities and manufacturing assets at the plant.
The company also plans to build a new greenfield auto mill in the US state of Kentucky, and parent company Aditya Birla Group is rumored to be interested in purchasing Aleris Corp.

Novelis president and chief executive officer Steve Fisher said that Novelis’ strong results for the three months ended December 31 supported further growth...


Kirk Maltais

February 02, 2018

01:34 GMT