Novelis' North American margins slide despite record premiums
Higher aluminum prices and delivery premiums lifted Novelis' revenue, but shipment softness and elevated conversion costs left North American earnings sharply lower.
Higher aluminum prices and delivery premiums lifted Novelis' revenue, but shipment softness and elevated conversion costs left North American earnings sharply lower.
The company cited, among other things, scrap purchases, tariff mitigations and the ramp-up of its plant in Switzerland.
AMU's latest survey of aluminum market participants shows widening gaps in lead times, with extrusions lengthening dramatically.
Chief Operating Officer Ingrid Joerg will succeed Jean-Marc Germain as CEO
MetalX will maintain its headquarters in Fort Wayne and both companies will maintain their own independence and management, the companies said.
The Hydro/University of Michigan partnership links university research with Hydro's facilities to develop, test, and scale next-generation aluminum extrusion alloys.
The company again upwardly revised its full-year adjusted EBITDA outlook, expecting it to improve 20%-25% year over year.
A fire at a Novelis aluminum mill in September shook up domestic supply for automakers
Ford executives said the automaker expects aluminum supplier Novelis to restart its fire-damaged Oswego, NY hot mill by late November or early December.
MetalX's proposed $250 million aluminum recycling and slab-rolling plant in Ohio has been shelved, with the site now listed for sale confirming the project will not proceed.