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Novelis raises its recycled aluminium inputs from 53% to 55% in FY 2017
Novelis Inc, the leading aluminium rolled products manufacturer and aluminium recycler reported significant improvement in its recycled aluminium inputs during the fourth quarter of fiscal 2017. The net income rose significantly higher and automotive shipments reached record highs during the reviewed period.
According to Novelis, the company succeeded in improving its overall metal mix by increasing inputs of recycled aluminium from 53 per cent in 2016 to 55 per cent in 2017. The numbers saw significant increase from 46 per cent in 2014 and 49 per cent in 2015 fiscal years.
Novelis made commendable progress in reducing energy and water intensity at all its facilities worldwide thereby riveting its position as a global sustainable aluminium rolled products manufacturer and recycler.
The company said that it would undertake every strategic initiative to expand the use of recycled aluminium in its manufacturing process and work its way up towards achieving higher standards of energy efficiency.
Novelis Inc.’s results brought cheer to the shareholders of its Indian parent company Hindalco Industries Ltd. Hindalco's shares raced passed its competitors' in the metals market after the announcement.
Analysts opine that the next trigger for the Indian aluminium producer will be the stand-alone results that would reflect its domestic operations. There, the aluminium business, they say, should benefit from better realizations.Get fresh Aluminium data and insights
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