Novelis completes $150 million aluminum rolling and recycling expansion in Brazil

2021-08-13

Aug. 12, 2021 - Novelis Inc., the world leader in aluminum rolling and recycling, today announced the completion of its $150 million investment to expand both rolling and recycling capacity at its Pindamonhangaba, Brazil, plant by 100 kilotonnes each. Annual capacity at this rolling and recycling complex, the largest in South America, is expected to increase to approximately 680 kilotonnes for aluminum sheet and 490 kilotonnes for recycling.

The additional recycling capacity is the newest step in support of the company's ambitious sustainability goals to reduce its carbon footprint by 30 percent by 2026 and to be net carbon neutral by 2050.

"Recycling and increasing the use of recycled content in our products is the cornerstone of Novelis' sustainability journey," said Steve Fisher, President and Chief Executive Officer, Novelis Inc. "We will continue to identify and invest in projects like this expansion in Brazil that will move Novelis toward being a fully circular business."

The additional capacity at the South American plant will allow Novelis to continue growing alongside its beverage packaging and specialty customers in the region. The investment also includes the purchase of an additional 380,000-square-meters of land for potential future expansion.

"This project reaffirms Novelis' commitment to serve the growing South American market with high-quality, innovative, low-carbon, sustainable aluminum solutions," said Francisco Pires, Senior Vice President, Novelis Inc. and President, Novelis South America. "We stand ready to meet our customers' needs both now and into the future."

In addition to the new aluminum rolling and recycling capacity, the investment includes the establishment of another reliable water source for the plant and a new railway terminal, further demonstrating Novelis' commitment to sustainability.

This is the second major investment within a decade in the Pindamonhangaba plant. It was made possible with technical support from InvestSP, the São Paulo Agency for Promoting Investments and Competitiveness.

"InvestSP's mission is to help develop the entire state," explained Gustavo Diniz Junqueira, the Agency's President. "A project of this scope contributes to the economy by creating jobs and furthering industrial activity in Brazil, so we dedicated our efforts in evolving together with Novelis in this expansion."

Ninety new permanent positions have been added at the Pindamonhangaba plant as a result of the expansion, which was completed on time and within budget.

Forward-Looking Statements

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 Novelis' expectations to increase annual capacity at its Pindamonhangaba, Brazil plant to approximately 680 kilotonnes for aluminum sheet and 490 kilotonnes and Novelis' goals to reduce its carbon footprint by 30 percent by 2026 and to be net carbon neutral by 2050. 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 the company's Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended March 31, 2021.