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February 08, 2016 7:57 AM ET

Metals and Mining

Company Overview of Novelis Inc.

Company Overview

Novelis Inc. produces and sells aluminum rolled products. It operates through four segments: North America, Europe, Asia, and South America. The company produces aluminum sheet and light gauge products primarily for use in the beverage and food can, and foil products, as well as in automotive, transportation, electronics, architectural, and industrial product markets. It is also involved in the primary aluminum smelting and hydroelectric power generation activities in Brazil. The company was founded in 2004 and is headquartered in Atlanta, Georgia. Novelis Inc. is a subsidiary of AV Metals Inc.

3560 Lenox Road

Suite 2000

Atlanta, GA 30326

United States

Founded in 2004

11,560 Employees

Phone:

404-760-4000

Key Executives for Novelis Inc.

Chief Executive Officer and President
Age: 44
Interim Chief Financial Officer
Senior Vice President and President of Novelis Europe
Age: 45
Senior Vice President and President of Novelis North America
Age: 58
Senior Vice President and President of Novelis South America
Age: 57
Compensation as of Fiscal Year 2015.

Novelis Inc. Key Developments

Novelis Inc. Supplies Aluminum Solutions for Ford F-Series Super Duty Truck

Novelis Inc. announced it is supplying high-strength, military-grade, aluminum for the upcoming Ford F-Series Super Duty lineup of trucks, the toughest, smartest, most capable Super Duty ever. Following the launch of the 2015 Ford F-150, the aluminum-intensive F-Series Super Duty trucks also feature high-strength, military-grade, Novelis aluminum alloys in the body and bed, reducing overall vehicle weight by up to 350 pounds. This weight reduction enables the use of tougher underbody components such as an all-new, fully boxed high-strength frame, stronger axles and springs, larger brakes and driveline parts for superior performance. The truck series will represent the second-highest volume aluminum application in automotive to date, surpassed only by the F-150, which saved up to 700 pounds of weight for increased capability, performance and efficiency. Novelis will produce the aluminum sheet for the F-Series Super Duty trucks at its plant in Oswego, N.Y. The plant is in the process of commissioning its third automotive sheet finishing line, which has been contracted to support production of the Super Duty and will begin shipping product in spring 2016.

Novelis Opens New Aluminum Automotive Heat Treatment Line in Europe to Deepen Commitment to Global Automakers

Novelis celebrated the opening of a aluminum automotive heat treatment line in Nachterstedt, Germany, to serve European and global automotive customers. Located adjacent to Novelis' existing rolling mill and the large aluminum recycling center, the $85 million investment will increase production capacity by 120,000 metric tons of automotive sheet annually. At full production, this line will increase Novelis' European automotive sheet capacity to 350,000 metric tons per year and will provide global customers with high-quality automotive sheet, including the Novelis Advanz portfolio of alloys used in lightweight vehicle structures and body panels. With this expansion, the company widens its global manufacturing operations to serve the rapidly growing automotive market. The technology used in the new Nachterstedt finishing line is identical to that of the lines recently commissioned in the United States and China, providing Novelis' global customers with the high level of quality and consistency regardless of location.

Novelis Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2015; Provides Capital Expenditure and Free Cash Flow Guidance for the Fiscal Year 2016

Novelis Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2015. For the quarter, the company reported net sales of $2,482 million compared to $2,831 million a year ago. Loss before income taxes was $16 million compared to income before income taxes of $36 million a year ago. Net loss attributable to common shareholder was $13 million compared to net income attributable to common shareholder of $38 million a year ago. Adjusted EBITDA was $182 million compared to $230 million a year ago. Free cash flow was $140 million compared to negative free cash flow of $108 million a year ago. Capital expenditures were $75 million compared to $126 million a year ago. For the six months, the company reported net sales of $5,116 million compared to $5,511 million a year ago. Loss before income taxes was $61 million compared to income before income taxes of $95 million a year ago. Net loss attributable to common shareholder was $73 million compared to net income attributable to common shareholder of $73 million a year ago. Net cash used in operating activities $63 million compared to $13 million a year ago. Capital expenditures were $204 million compared to $264 million a year ago. Adjusted EBITDA was $309 million compared to $465 million a year ago. Free cash flow was negative $285 million. The company expects to spend approximately $400 million on capital expenditures in fiscal year 2016. The company is confident in achieving positive free cash flow for the full year.

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