ZURICH, May 5, 2010 -- 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.
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.
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.
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