Novelis (NVL) announced that in early 2023 it signed a new anchor customer contract with aluminum can maker Ball Corporation (BALL) in North America. Under the contract, Novelis will supply aluminum sheet to Ball can making plants in North America. With this contract and other commitments, Novelis has secured all of the beverage can capacity from its new plant in Bay Minette, Ala. The new plant, expected to begin commissioning in 2025, will be the first fully integrated aluminum manufacturing plant built in the U.S. in nearly 40 years and will have an initial capacity of 600,000 tonnes of finished goods primarily for the North American beverage can and automotive markets, the company said in a statement.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BALL:
- Ball Corp. CFO Morrison to retire, Yu named as successor
- Ball Corp. general counsel Charles Baker to retire
- Unusually active option classes on open August 21st
- Ball Corp. (NYSE: BALL) Sheds Aerospace Business in $5.6 Billion Deal with BAE Systems
- BAE Systems to acquire Ball Aersopace business for $5.55B in cash