Novelis plans to more than triple recycling capacity by 2020
Metal Recycling News | 2012-10-16 08:57:04
Global aluminum company Novelis Inc. plans to more than its triple recycling capacity by 2020, due to a projected increased demand of flat-rolled aluminum for the auto industry.
By Paul Ploumis
ATLANTA (Scrap Monster): Global aluminum company Novelis Inc. plans to more than its triple recycling capacity by 2020, due to a projected increased demand of flat-rolled aluminum for the auto industry.
The aluminum recycler and producer said its capacity may grow from 1.3 million tons to 2.3 million tons by 2015 and to 4.4 million tons by 2020.
Demand for aluminum in the auto industry may grow at an average annual rate of 25% worldwide in the next five years, it said.
"It's a huge growth," Derek Prichett, Novelis' vice president for global recycling, said. "There's been a very fast increase in that market in Europe and North America, but also it is growing very fast in Asia and in China."
Novelis, whose parent company is India-based Hindalco Industries Ltd., said it is building plants in Germany and South Korea to help meet its output targets. It also will double capacity at its Brazil operations.
The company plans to make 50% of its products from recycled metal by 2015 and as much as 80% by 2020. Novelis' current rate is 39%.
