Novelis to Invest $4.5M to Upgrade Warren Plant
WARREN, Ohio — Novelis Inc., a global producer of aluminum rolled products and the world’s largest recycler of aluminum, says it will invest $4.5 million to upgrade technology at its manufacturing plant here, 390 Griswold St. NE.
The new technology will provide greater versatility for pretreatments, improve operational efficiency and reduce costs, the company said. The plant, which opened in 1965, employs 75 workers who apply coating to rolled aluminum sheet. The sheet is used for production of lids for the tops of aluminum beverage cans, producing enough for more than one billion beverage can lids each month.
“We are thrilled to announce this local investment,” said Paul Nelson, plant manager, in a prepared statement. “Due to a steady U.S. can market and Novelis’ strong financial performance across the globe, we are making the investments necessary to sustain our operation here in Warren for many years to come.”
Novelis supplies beverage can materials to some of the world’s most recognizable brands, including Coca-Cola, AB InBev and PepsiCo. It reported net income of a record $307 million Nov. 2 for the second fiscal quarter.
“As an industry, we are seeing increasing demand for lightweight, high-strength aluminum from global automotive customers based on aluminum’s ability to provide equal or better quality, strength and safety compared to other materials,” said Steve Fisher, president and CEO.
According to a fact sheet provided by the company, operations at the 429,500-square-foot Warren plant generate annual wages and benefits of $6.9 million. It was built in 1965.
“I applaud Novelis for making this important investment here in Warren,” said U.S. Rep. Tim Ryan in a statement that accompanied the investment announcement. “Novelis is proof that innovative manufacturing technologies are growing right here in the Mahoning Valley and that our region is a great place to do business.”
Also issuing statements applauding the company were U.S. Sen. Rob Portman, R-Ohio, and U.S. Sen. Sherrod Brown, D-Ohio.
Novelis Inc. operates in 10 countries, has 11,000 employees and had $10 billion in revenue for 2017 fiscal year. Its aluminum sheet and foil products supply transportation, packaging, construction, industrial and consumer electronics markets throughout North America, Europe, Asia and South America.
The company is a subsidiary of Hindalco Industries Ltd., which is owned by Aditya Birla Group, a multinational conglomerate based in Mumbai, India.
Copyright 2020 The Business Journal, Youngstown, Ohio.