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Novelis to Invest $300 Million to Expand Brazil Aluminum Operations

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May 27, 2010 -- Novelis Inc. (NVL) said Thursday that it will invest around $300 million to expand its aluminum-rolling operations in Pindamonhangaba, Brazil, in response to the growing demand for its products in South America.
The company will expand its Brazilian plant's capacity by more than 50% to over 600,000 metric tons of aluminum sheet a year, it said in a statement.
Novelis, a unit of India's Hindalco Industries Ltd. (500440.BY), will add a cold-rolling mill to two existing ones as well as a new ingot casting center, and a new pusher furnace for its hot-rolling mill, with the expanded facilities expected to go onstream in late 2012, it said.
&quot;We are experiencing strong demand for our products in South America, particularly for beverage can sheet,&quot; President and Chief Operating Officer Phil Martens said.
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Novelis to Invest $300 Million to Expand Brazil Aluminum Operations

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