Novelis Announces Price Increase on Aluminium Rolled Products in Europe
05/05/2010 06:01
PR Newswire
ZURICH, May 5, 2010 /PRNewswire/ --
Novelis today announced that it is increasing the price of the aluminium
coil and sheet standard products that it sells to European distribution and
industrial customers. The company's fabrication charge will increase by euro
80 per tonne for these products.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070809/NOVELISLOGO )
The price change is effective immediately for all new orders booked and
for all shipments on or after July 1, 2010. Orders currently under a fixed
contract are not affected by this announcement.
Tadeu Nardocci, President Novelis Europe, commented: "We have seen
significant growth in order intake across all major distribution and
industrial markets in Europe over recent months, as well as marked increases
in aluminum spot premiums. This adjustment to our prices reflects that
situation as well as movements in other costs."
Similarly, the prices for coil-coated sheet products supplied by Novelis
to the building and construction, transport and industrial markets are also
being revised upwards in line with market and cost developments.
Novelis is the leading supplier of high quality aluminium sheet to the
European market.
About Novelis
Novelis Inc. is the world's largest producer of rolled aluminum and the
global leader in beverage can recycling. The company operates in 11
countries, has approximately 12,000 employees and reported revenue of US$10.2
billion in its 2009 fiscal year. Novelis is a growth-oriented company,
drawing upon its industry-leading technology, experience and expertise to
develop and deliver an expanding portfolio of premium aluminum sheet and foil
products for customers around the globe. As a subsidiary of Hindalco
Industries Limited, Novelis is an important part of the worldwide Aditya
Birla Group of companies. For more information, please visit
http://www.novelis.com.
John Gardner, +41-44-386-2155, john.gardner@novelis.com
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