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Classified in: Mining industry, Business, Covid-19 virus
Subjects: RCY, CXP

Novelis Announces $7 million Expansion, 37 New Jobs in Terre Haute


TERRE HAUTE, Ind., July 27, 2021 /PRNewswire/ -- Novelis Inc., the world leader in aluminum rolling and recycling, today announced it is investing more than $7 million to hire 37 new employees and restart several pieces of idled equipment at its manufacturing facility in Terre Haute, Indiana. With this expansion, the plant will produce aluminum for household foil applications later this year after recently securing several multi-year agreements with key customers. Examples of these applications include products such as aluminum foil sheets and rolls used in commercial and residential kitchens. Novelis is actively seeking qualified candidates for available positions that include operators, mechanics, electricians, engineers and other operational leadership roles. Interested candidates can learn more by visiting novelis.com/careers and searching for jobs in Terre Haute.

"Novelis has been a strong community partner here in the Wabash Valley for more than 60 years and this investment solidifies not only our leadership position in the aluminum foil market, but also our commitment to bringing new, sustainable jobs to this region," said Ryan Smith, Plant Manager.

Novelis stopped producing household foil in 2014 due to unfavorable market dynamics. Since then, the U.S. Aluminum Association's Trade Enforcement Working Group, of which Novelis is a member, has filed antidumping and countervailing duty cases against several countries from which unfairly priced aluminum foil has been imported into the United States. Since the success of these cases, interest for household foil produced in the U.S. has increased and Novelis has decided to reenter the market, create jobs and invest in its operations.

The Indiana Economic Development Corporation offered Novelis up to $475,000 in conditional tax credits based on the company's job creation plans. These tax credits are performance-based, meaning the company is eligible to claim incentives once residents of Indiana are hired. The Terre Haute Economic Development Corporation approved additional incentives. The WorkOne Center of Western Indiana will also support Novelis' hiring efforts and offer eligible, unemployed workers funding for on-the-job training.

Several officials weighed in on the investment.

"Novelis contributes to our state's strong and diversified manufacturing sector, which boasts more than 9,000 facilities across Indiana," said Jim Staton, SVP and chief business development officer for the Indiana Economic Development Corporation. "These manufacturers provide thousands of quality Hoosier jobs, and I applaud Novelis for being innovative and adapting to the current market to grow their operations."

"Hoosiers are grateful for Novelis' continued investment in Terre Haute. This is great news for the workers and economy of West Central Indiana as we work to make the U.S. more competitive in this industry including through expanded market access," said Senator Todd Young.

"When workers are allowed to compete in a fair environment, everyone wins and our country flourishes. I'm glad to hear that Novelis is continuing to invest in Indiana and creating 37 new jobs for Hoosiers in Terre Haute," said Senator Mike Braun. "Hoosier manufacturing is the foundation of Indiana's pro-growth economy, and Indiana continues to be the destination for expanding and growing American business."

"As the most manufacturing intensive state in the United States, hardworking Hoosiers generate billions of dollars in goods and exports for our country," said Congressman Larry Bucshon. "This investment by Novelis builds on our robust manufacturing industry to strengthen our Hoosier economy, expand jobs in Terre Haute, and revitalize their facility. I want to thank Novelis for their investment in West Central Indiana and look forward to seeing their operation grow."

Novelis' 155 employees in Terre Haute produce light-gauge aluminum used for several end markets and products. As an active community partner, Novelis employees donate their time and resources to several local organizations, including the United Way of the Wabash Valley, reTHink, Society of Women Engineers, and several others. During the COVID-19 pandemic, the facility has maintained full employment.

Forward-Looking Statements

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 Novelis' expectations to invest more than $7 million to hire 37 new employees and restart several pieces of idled equipment at its manufacturing facility in Terre Haute, Indiana.  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 outcomes are included under the caption "Risk Factors" in the company's Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended March 31, 2021.

About Novelis
Novelis Inc. is driven by its purpose to shape a sustainable world together. As a global leader in innovative products and services and the world's largest recycler of aluminum, we partner with customers in the aerospace, automotive, beverage can and specialties industries to deliver solutions that maximize the benefits of lightweight aluminum throughout North America, Europe, Asia and South America. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India. For more information, visit novelis.com.

SOURCE Novelis Inc.


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News published on 27 july 2021 at 10:00 and distributed by: