Seoul, (ANTARA News/PRNewswire-AsiaNet) - Novelis Korea Limited announced that it has successfully completed the installation of Novelis Fusion(TM) technology at its plant in Ulsan, South Korea, and has begun commercial production of multi-alloy aluminum sheet products.
This is Novelis' second application of its proprietary technology following the ground-breaking launch at its plant in Oswego, New York in 2006. This is also Novelis' second major investment in South Korea this year after the completion of a US$30 million expansion of its aluminum rolling mill in Yeongju last March.
Novelis Fusion(TM) is a unique solidification technology that produces aluminum sheet ingots with multiple layers of different alloys. These "multi-alloy" ingots are then rolled into premium sheet products with previously unattainable combinations of attributes such as high strength and superior surface quality.
Installing the technology in the Ulsan plant involved reconfiguring the existing ingot casting facility, known as the Universal Casting Shop. As its name implies, the casting shop has a flexible configuration which can be easily adapted to different casting technologies, making the conversion to Novelis Fusion(TM) rapid and cost-efficient. The casting facility is now producing both Netcast(TM) shape-cast products for automotive parts and Novelis Fusion(TM) ingots for sheet products.
The initial opportunity for Novelis Fusion(TM) sheet products in the Korean marketplace is to replace the conventional clad aluminum products used in heat exchanger applications. Novelis has already begun to supply brazing sheet to Korean customers that previously relied on imports, and the company expects to continue to increase its market share in the Asian market.
"With Novelis Fusion technology, we are now capable of offering a full range of high-quality brazing sheet and fin stock products for heat exchangers," said Bill Herr, Ulsan Plant Manager. "This will support our continued effort to deliver innovation for our customers."
"We are excited about the new opportunities that Novelis Fusion will open up for customers in Asia," added Jacquie Bartlett, Vice President Sales & Marketing. "Beyond the heat exchanger market, this new technology will add momentum to our initiatives to develop high-value products with our customers and to enter new markets."
Based on positive response from customers, the company is rolling out its Novelis Fusion(TM) technology worldwide. Projects are under way to also install the technology in Europe and South America, which will provide global coverage to all major markets. Customer interest is high in markets such as automotive, architecture and household appliances.
For more information on Novelis Fusion(TM) technology, please visit www.novelis.com/fusion .
About Novelis Korea
Novelis Korea Limited is a joint venture of Novelis Inc. (68%), Taihan Electric Wire Co. Ltd. (31%), and the Hyundai Group (1%). Novelis Korea employs more than 1,200 employees in the production of a broad range of high-end aluminum flat-rolled products. For more information on Novelis Korea Limited, visit www.novelis.co.kr
About Novelis Inc.
Novelis Inc. is the global leader in aluminum rolled products and aluminum can recycling. The company operates in 11 countries, employs approximately 12,700 people and reported revenue of $11.2 billion in its 2008 fiscal year. Novelis supplies premium aluminum sheet and foil products to automotive, transportation, packaging, construction, industrial and printing markets throughout North America, South America, Europe and Asia. Novelis is a subsidiary of Hindalco Industries Limited, Asia's largest integrated producer of aluminum and a leading copper producer. Hindalco is the flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India.
For more information on Novelis, visit www.novelis.com .
Statements made in this news release which describe Novelis' intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. Examples of forward-looking statements in this news release include, among other things, Novelis' ability to develop new markets and create high-value products with the Novelis Fusion(TM) technology. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Important risk factors which could impact the success of Novelis' recycling are included under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended March 31, 2008, filed with the SEC, and are specifically incorporated by reference into this news release.
SOURCE Novelis Inc.
CONTACT: Charles Belbin of Novelis Inc.,
+1-404-814-4260,
charles.belbin@novelis.com;
or
SooHyun Oh of Novelis Korea Limited,
+82 2 2259 1626,
soohyun.oh@novelis.com
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh20080626/CLTH061
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
Web site: http://www.novelis.com
http://www.novelis.co.kr
http://www.novelis.com/fusion
This is Novelis' second application of its proprietary technology following the ground-breaking launch at its plant in Oswego, New York in 2006. This is also Novelis' second major investment in South Korea this year after the completion of a US$30 million expansion of its aluminum rolling mill in Yeongju last March.
Novelis Fusion(TM) is a unique solidification technology that produces aluminum sheet ingots with multiple layers of different alloys. These "multi-alloy" ingots are then rolled into premium sheet products with previously unattainable combinations of attributes such as high strength and superior surface quality.
Installing the technology in the Ulsan plant involved reconfiguring the existing ingot casting facility, known as the Universal Casting Shop. As its name implies, the casting shop has a flexible configuration which can be easily adapted to different casting technologies, making the conversion to Novelis Fusion(TM) rapid and cost-efficient. The casting facility is now producing both Netcast(TM) shape-cast products for automotive parts and Novelis Fusion(TM) ingots for sheet products.
The initial opportunity for Novelis Fusion(TM) sheet products in the Korean marketplace is to replace the conventional clad aluminum products used in heat exchanger applications. Novelis has already begun to supply brazing sheet to Korean customers that previously relied on imports, and the company expects to continue to increase its market share in the Asian market.
"With Novelis Fusion technology, we are now capable of offering a full range of high-quality brazing sheet and fin stock products for heat exchangers," said Bill Herr, Ulsan Plant Manager. "This will support our continued effort to deliver innovation for our customers."
"We are excited about the new opportunities that Novelis Fusion will open up for customers in Asia," added Jacquie Bartlett, Vice President Sales & Marketing. "Beyond the heat exchanger market, this new technology will add momentum to our initiatives to develop high-value products with our customers and to enter new markets."
Based on positive response from customers, the company is rolling out its Novelis Fusion(TM) technology worldwide. Projects are under way to also install the technology in Europe and South America, which will provide global coverage to all major markets. Customer interest is high in markets such as automotive, architecture and household appliances.
For more information on Novelis Fusion(TM) technology, please visit www.novelis.com/fusion .
About Novelis Korea
Novelis Korea Limited is a joint venture of Novelis Inc. (68%), Taihan Electric Wire Co. Ltd. (31%), and the Hyundai Group (1%). Novelis Korea employs more than 1,200 employees in the production of a broad range of high-end aluminum flat-rolled products. For more information on Novelis Korea Limited, visit www.novelis.co.kr
About Novelis Inc.
Novelis Inc. is the global leader in aluminum rolled products and aluminum can recycling. The company operates in 11 countries, employs approximately 12,700 people and reported revenue of $11.2 billion in its 2008 fiscal year. Novelis supplies premium aluminum sheet and foil products to automotive, transportation, packaging, construction, industrial and printing markets throughout North America, South America, Europe and Asia. Novelis is a subsidiary of Hindalco Industries Limited, Asia's largest integrated producer of aluminum and a leading copper producer. Hindalco is the flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India.
For more information on Novelis, visit www.novelis.com .
Statements made in this news release which describe Novelis' intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. Examples of forward-looking statements in this news release include, among other things, Novelis' ability to develop new markets and create high-value products with the Novelis Fusion(TM) technology. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Important risk factors which could impact the success of Novelis' recycling are included under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended March 31, 2008, filed with the SEC, and are specifically incorporated by reference into this news release.
SOURCE Novelis Inc.
CONTACT: Charles Belbin of Novelis Inc.,
+1-404-814-4260,
charles.belbin@novelis.com;
or
SooHyun Oh of Novelis Korea Limited,
+82 2 2259 1626,
soohyun.oh@novelis.com
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh20080626/CLTH061
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
Web site: http://www.novelis.com
http://www.novelis.co.kr
http://www.novelis.com/fusion
