Novelis, the world leader in aluminum rolling and recycling, today announced a price increase on its aluminum automotive sheet products in North America.
The price increase of $0.11per pound for 6000-series, 5182-series and 5000-series automotive alloys will be effective for all new orders on or after January 1, 2014. Novelis fabrication pricing for specified volumes under current contracts will be honored throughout the contract period. The price increase is in addition to the previously announced pricing adjustment made on April 23, 2013.
"This increase reflects the dynamics of the rapidly growing market for aluminum automotive sheet in North America," said Marco Palmieri, Senior Vice President and President, Novelis North America.
"We officially commissioned our two new automotive sheet finishing lines in Oswego, NY, last month, which will increase our automotive capacity by 240,000 tons per year," said Palmieri. "That's five times our current automotive capacity in North Americaand an important milestone as we remain globally positioned to build on our supply and technology leadership in this important market."
In addition to the Oswegoexpansion, a new automotive sheet finishing plant is under construction in Changzhou, China, which is expected to commence production in mid-2014 and will have a capacity of 120,000 tons. The company also recently certified automotive sheet production at its Gottingen, Germanyplant that will ultimately add 40,000 tons of additional capacity. These new locations will join the company's existing automotive facilities in Kingston, Ontario, Canada; Sierre, Switzerlandand Nachterstedt, Germany.
Novelis is the world's leading provider of aluminum automotive sheet, used for making structural components and exterior body panels. Novelis aluminum can be found in more than 180 different vehicle models produced by leading automakers around the globe.
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