16 AUGUST 2011alu
Novelis sees aluminum demand and consumer growth
Edited by : AL CIRCLE
1 min read
Aluminum products maker Novelis expects strong demand from the auto industry to offset softness in the US beverage can business and a pullback by European electronics consumers.
Mr Phil Martens CEO of Novelis said that fiscal Q2 results could be slightly better than a year ago as the company forges ahead with plant expansions to handle expected growth in aluminum consumption. The market demand for aluminum continues to be very strong.
In the automotive market, the story is about global demand. The number of high end cars with major aluminum parts being sold into Asian markets. Also, US automakers were expected to produce some 12 million vehicles this year, so net net, shipments in the US are up.
Mr Phil Martens CEO of Novelis said that fiscal Q2 results could be slightly better than a year ago as the company forges ahead with plant expansions to handle expected growth in aluminum consumption. The market demand for aluminum continues to be very strong.
In the automotive market, the story is about global demand. The number of high end cars with major aluminum parts being sold into Asian markets. Also, US automakers were expected to produce some 12 million vehicles this year, so net net, shipments in the US are up.
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