Novelis Announces Price Increase on Aluminium Rolled Products in Europe
19/08/2010 17:41
PR Newswire
ZURICH, August 19, 2010 /PRNewswire/ --
Novelis today announced that it is increasing the prices of the
speciality sheet products that it sells to European distribution and
industrial customers. The company's fabrication charge will increase by up to
100 Euros per tonne, depending on the product.
(Logo: http://photos.prnewswire.com/prnh/20100527/CL11716LOGO )
(Logo: http://www.newscom.com/cgi-bin/prnh/20100527/CL11716LOGO )
The price change is effective immediately for all new orders booked and
for all shipments on or after October 1, 2010. Orders currently under a fixed
contract are not affected by this announcement.
"Further to the price increase announced in May, we continue to see
significant growth in order intake across all major sheet markets in Europe,
as well as increases in aluminium spot premiums," said Tadeu Nardocci, senior
vice president of Novelis Inc. and president of Novelis Europe. "This
adjustment to our prices reflects that situation as well as metal and
capacity limitations."
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 global leader in aluminium rolled products and
aluminium can recycling. The company operates in 11 countries, has
approximately 11,600 employees and reported revenue of US$8.7 billion in its
2010 fiscal year. Novelis supplies premium aluminium sheet and foil products
to automotive, transportation, packaging, construction, industrial,
electronics and printing markets throughout North America, South America,
Europe and Asia. Novelis is a subsidiary of Hindalco Industries Limited (BSE:
HINDALCO), one of Asia's largest integrated producers of aluminium and a
leading copper producer. Hindalco is a flagship company of the Aditya Birla
Group, a multinational conglomerate based in Mumbai, India. For more
information, please visit http://www.novelis.com.
Media Relations - Europe: Joan Chesney, +44-1789-414-737, joan.chesney@novelis.com; or Corporate: Charles Belbin, +1-404-814-4260, charles.belbin@novelis.com; or Investor Relations - Isabel Janci, +1-404-814-4730, isabel.janci@novelis.com
-