All eyes are on Novelis’ New York (Oswego) unit reopening in December, which halted production after the September 16 fire incident. Why? Stakeholders are hit financially on both ends of the Atlantic. Hindalco, the parent company of Novelis, is suffering a negative free cash flow from the unfortunate incident. Novelis, whose own financials are jolted, is also a wholly-owned subsidiary (a company whose 100 per cent share capital is owned) by parent company Hindalco and is also a major contributor to the latter’s consolidated financial results.
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Financial impacts on Hindalco
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