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Novelis maintains recycled content targets despite scrap tightness
Edited by : AL CIRCLE
1 min read
US aluminum sheet maker Novelis remains on track to reach 80% recycled content by 2020 despite a persistently tight scrap scenario, Marco Palmieri, president of Novelis North America, said in an interview late Wednesday.
Palmieri, formerly president of Novelis South America, was named as head of North America in May.
"Things are going extremely well," he said of Novelis' recycling targets.
Novelis' recycled content reached 39% in fiscal 2012 ended in March and 43% in fiscal 2013. The target for fiscal 2015 is 50% and fiscal 2020 is 80%.
"We know what we have to do in terms of capital. We need to develop new technology so we can process some scrap that we don't process now," he said, noting that "we know we won't get to 80% with just UBCs. The key is processing other scrap."
Palmieri said Novelis has "a tremendous scrap-buying network," with buyers in Asia, Europe and North and South America. "And we can move scrap all around. This helps us a lot when a region in tight [with supplies], we can move scrap to different regions."
Palmieri, formerly president of Novelis South America, was named as head of North America in May.
"Things are going extremely well," he said of Novelis' recycling targets.
Novelis' recycled content reached 39% in fiscal 2012 ended in March and 43% in fiscal 2013. The target for fiscal 2015 is 50% and fiscal 2020 is 80%.
"We know what we have to do in terms of capital. We need to develop new technology so we can process some scrap that we don't process now," he said, noting that "we know we won't get to 80% with just UBCs. The key is processing other scrap."
Palmieri said Novelis has "a tremendous scrap-buying network," with buyers in Asia, Europe and North and South America. "And we can move scrap all around. This helps us a lot when a region in tight [with supplies], we can move scrap to different regions."
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