PRESS RELEASE
Published on January 7, 2005
Exhibit 99.1
[LOGO NOVELIS]
NEWS RELEASE
- --------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE
- ---------------------
NOVELIS -- THE NEW GLOBAL LEADER IN ALUMINUM ROLLED PRODUCTS
TORONTO, CANADA -- JANUARY 6, 2005 -- Novelis Inc. (NYSE, TSX: NVL), the world's
leading aluminum rolled products company was officially launched today as an
independent company. Novelis, which will own and operate the majority of the
former rolled products groups of Alcan Inc., was spun off to create a strong,
independent company solely focused on serving aluminum rolled products markets.
Novelis has 37 operating facilities in 12 countries and more than 13,500
employees and had 2003 revenues of US$6.2 billion. Globally, Novelis is the
world's largest aluminum rolled products producer and is a leading supplier to
the beverage, automotive, industrial, foil, lithographic and painted sheet
markets. Novelis is domiciled in Canada with its executive office in Atlanta,
Georgia.
"Our new company has the world's leading rolling technologies, facilities and
people to deliver superior solutions to our customers and value to our
shareholders," said Brian W. Sturgell, President and Chief Executive Officer of
Novelis Inc. "With the launch of Novelis, our energies are now appropriately
focused on our core competencies and strengths in rolling. Novelis is the only
aluminum rolled products company capable of producing technically sophisticated
products on four major continents. We are now well positioned to provide even
greater support to our customers' success by delivering precision-engineered
rolled products throughout the global marketplace," Sturgell added.
Common shares of Novelis will begin trading under the stock symbol NVL on a
"when issued" basis on the Toronto (TSX) and New York (NYSE) stock exchanges as
of January 6, 2005. Regular-way trading of Novelis shares will begin on the
Toronto Stock Exchange on January 7, 2005 and on the New York Stock Exchange on
January 18, 2005.
Novelis is the global leader in aluminum rolled products and aluminum can
recycling. The Company has 37 operating facilities in 12 countries and more than
13,500 dedicated employees. Novelis has the unparalleled capability to provide
its customers with a regional supply of high-end rolled aluminum products
throughout Asia, Europe, North America, and South America. Through its advanced
production capabilities, the Company supplies aluminum sheet and foil to the
automotive and transportation, beverage and food packaging, construction and
Industrial, and printing markets. For more information on the company, visit
www.novelis.com
MEDIA CONTACT: INVESTOR CONTACT:
Pat Persico Holly Ash
440-423-6522 440-423-6235