SOUTH KOREA - Novelis has announced the opening of Asia’s largest aluminium beverage can recycling centre, at its facility in Yeongju, South Korea, as part of a multi-year, $400 million expansion of Novelis' operations in Korea.
Asia is the world's fastest growing market for rolled aluminium beverage cans, cars and consumer electronics, and the Yeongju recycling centre will have an annual capacity of 265,000 tons, which will increase the company's total consumption of recycled aluminium to over 1.4 million tons per year.
According to Phil Martens, Novelis President and Chief Executive Officer "The opening of the Yeongju recycling and casting facility marks an important milestone in our sustainability commitment.
"Combined with our other recycling operations worldwide, this new state-of-the-art facility makes Novelis the world's leading recycler of aluminium, saving valuable natural resources while enabling our customers to create world-class products with a much smaller environmental footprint."
Recycled content to rise to 80%
As a key component of the company's sustainable business model, Novelis has committed to dramatically increasing the recycled content of its rolled aluminium products to 80% by 2020. This project represents the first major step in the company's plan to increase its recycling capacity to 2.1 million tons by 2015.
Other significant recycling expansions are already underway in Brazil and Germany, along with additional investments worldwide.
"The commissioning of our new recycling and casting facility is a testament to the diligent efforts of the Novelis Asia management team and the dedication of our highly skilled Novelis workforce here in South Korea," noted Shashi Maudgal, President of Novelis Asia. "With our aggressive expansion plans, we are well positioned to meet the rising demand for rolled aluminium."
As a result of this investment, Novelis will become a major buyer of aluminium scrap throughout Asia. Used aluminium beverage cans and other aluminium scrap will be processed by the new facility for re-melting and casting into sheet ingot that will be rolled at the company's Yeongju and Ulsan plants.
Novelis Inc. is a subsidiary of Hindalco Industries Limited, one of Asia's largest integrated producers of aluminium and a leading copper producer.
In turn, Hindalco, is a flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India.
As a major player in aluminium recycling and rolling, Novelis operates in 11 countries, has more than 11,000 employees and reported revenue of $11.1 billion.
The company supplies premium aluminium sheet and foil products to automotive, transportation, packaging, construction, industrial, electronics and printing markets throughout North America, Europe, Asia and South America.