ATLANTA, Aug. 12, 2011 /PRNewswire/ -- Novelis Inc. announced today that Marco Antonio Palmieri has been appointed Senior Vice President of Novelis and President, Novelis South America, effective August 22, 2011. He will be confirmed as an executive officer of the company at the next Novelis Board of Directors meeting. Palmieri succeeds Alexandre Almeida, who is leaving the company to pursue other business interests.
Palmieri brings to Novelis more than 30 years of experience in the metals and engineering industries, including 25 years with aluminum producer Rio Tinto Alcan where he held a succession of international leadership positions in such areas as business development, primary metal and energy production.
"Marco has a solid track record of directing integrated aluminum operations and is highly respected in the industry," said Philip Martens, President and Chief Executive Officer of Novelis. "We look forward to his leadership as an executive officer of Novelis and the head of our rapidly growing South American business."
Palmieri's most recent position was Aluminum Business Director for Votorantim Metais Ltda., the entity holding the aluminum, nickel and zinc operations of the Votorantim Group, a large industrial conglomerate based in Sao Paulo, Brazil. The Group's aluminum operations include Companhia Brasileira de Aluminio (CBA), one of the country's largest aluminum producers.
Brazilian born, Palmieri holds a bachelor's degree in Metallurgical Engineering from the School of Mines in Ouro Preto, Brazil, and a master's degree in Management from McGill University in Montreal, Canada.
Novelis is the leading producer of flat rolled aluminum products in Brazil and is currently investing $300 million to expand its plant in Pindamonhangaba. The expansion, expected to come on stream in late 2012, will increase the plant's capacity by more than 50 percent to over 600,000 metric tons of aluminum sheet per year, making it the largest aluminum rolling mill in South America.
Novelis Inc. is the global leader in aluminum rolled products and aluminum can recycling. The Company operates in 11 countries, has nearly 11,000 employees and reported revenue of $10.6 billion in fiscal year 2011. Novelis supplies premium aluminum sheet and foil products to automotive, transportation, packaging, construction, industrial, electronics and printing markets throughout North America, Europe, Asia, and South America. Novelis is a subsidiary of Hindalco Industries Limited (BSE: HINDALCO), one of Asia's largest integrated producers of aluminum 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 www.novelis.com.
Statements made in this news release which describe Novelis' intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. Examples of forward-looking statements in this news release include references to Novelis' ability to expand the capacity of the Pindamonhangaba plant by more than 50 percent. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Important risk factors which could impact outcomes are included under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011, and in our Annual Report on Form 10-K for the year ended March 31, 2011.