Novelis Completes $400 Million Expansion of Aluminum Rolling Mills
Novelis completed a two-year, $400 million expansion program in South Korea. The expansion of its Yeongju and Ulsan plants increases the company's production capacity in the region by more than 50% to approximately 1 million metric tons of aluminum sheet per year. Novelis began the expansion of its aluminum rolling and recycling facilities in 2011 to meet the rising demand for flat-rolled aluminum in high value-added products in the Asian market. The expansion includes a hot-rolling finishing mill, cold-rolling mill, pusher furnace and annealing furnaces. Novelis now has the capability to supply coils to its new automotive sheet finishing plant in Changzhou, China, which is expected to commence production in mid-2014.