Latest news with #Novelis
ME Construction
07-07-2025
- Business
- ME Construction
VELUX Group signs long-term agreement with Novelis
Sustainability VELUX Group signs long-term agreement with Novelis By Recycling aluminium saves energy and reduces emissions by up to 95% compared to primary aluminium The VELUX Group has signed a multi-year commercial agreement with Novelis, the aluminum rolling and recycling company, to supply recycled content aluminum. The partnership will enable the production of flat-rolled aluminum containing over 70% recycled content, which will be used to manufacture VELUX roof windows and accessories. By adopting this sustainable solution, VELUX aims to further reduce its carbon emissions. Following an initial letter of intent between Novelis and VELUX Group, which was signed in 2022, a long-term commercial agreement has been established. This agreement solidifies their shared goal of achieving a level of 3kg CO2 eq/kg flat rolled aluminum or below by 2030. 'This agreement really demonstrates our strong commitment to reach this very ambitious goal within just five years,' says Klaus Lorentzen, Senior Vice President Products and Innovation for the VELUX Group. 'It also secures the steady supply for several years of a key roof window material with a desirably low carbon footprint. With more than 70% recycled content, this Novelis aluminium is key for our efforts to decarbonise VELUX products.' Recycling aluminium saves energy and reduces emissions by up to 95% compared to primary aluminium, making it a key enabler in advancing decarbonised solutions for building materials and construction. The aluminium alloy provided by Novelis to VELUX is specifically optimised for use in roof window production. 'This agreement with VELUX is a catalyst for transformation and we have made significant progress together in developing alloys that not only meet demanding performance standards but also support a circular economy,' says Michael Hahne, Vice President of Commercial for Novelis Europe. 'At Novelis, we are proud to lead the aluminium industry in advancing high-recycled-content alloys. Partnering with strong brands like VELUX is a testament for sustainable innovation. By giving aluminium scrap new life again and again, we are working towards our 3×30 Vision by becoming the world´s lowest-emissions provider of flat-rolled aluminium.' Novelis has been a trusted supplier to VELUX for over four decades. Since 2022, the companies have been collaborating closely to significantly reduce the carbon footprint associated with the aluminum used in VELUX products. Remarkably, more than 50% of the aluminum supplied by Novelis to VELUX has already been replaced with high-recycled content. The partners are committed to steadily increasing this percentage in the coming years. 'Aluminium is an essential material used for external protection of our roof windows and accessories and therefore also a significant contributor to our Scope 3 emissions,' adds Lorentzen. 'So, the type of aluminium we use in our production must contain a high degree of recycled content to meet our decarbonisation targets. By shifting to low-carbon aluminium, we are paving the way for the next generation of VELUX roof windows and accessories.' Aluminium, one of several key materials, is being investigated by VELUX Group with its suppliers to help reduce its products' carbon footprint. Since over 98% of the company's carbon footprint originates from Scope 3, value chain emissions, decarbonisation efforts necessitate effective collaboration with key suppliers.
Yahoo
28-06-2025
- Business
- Yahoo
Last day of production arrives at Fairmont Novelis plant
FAIRMONT — At some point Friday evening, Novelis employees will hold a dinner amongst themselves. The mood will be somber. 'We have a dinner today to celebrate, but, you know, it's not really a celebration to me,' Novelis mill operator and Fairmont Deputy Mayor Josh Rice said. 'A lot of the other guys that were retirees came in there and just kind of wanted to give the guys a shoulder and let them know that they were there for them. And how sad it was that this place is ending.' Novelis stopped production at its Fairmont facility on Friday. The company announced it would close its Fairmont plant on March 31, with a final date set for June 30. The plant manufactured aluminum fin stock, which is used in heat exchangers for automotive radiators and heating and cooling equipment such as HVAC. For a while, however, plant employees held out hope the plant would be purchased by a different company. It was not to be. 'We thought we was going to get bought out by a company called Commonwealth,' Randy Hines, a 30 year employee, said. 'So we thought we was gonna still be here for a little bit, or they would just take over and resume as normal. But that deal fell through. It's kind of like being divorced and then getting back together and getting divorced again.' Hines said it was like being fired twice. Rice said the company called employees on Tuesday and told them to just stay home, and that the company would continue to pay through June 30. Rice and a few others kept working to make sure the last items were shipped out of the plant and everything was closed and powered off correctly. The power actually went off during an outage from a storm on one of the nights. Rice said there was a certain finality to it. While the plant has ceased operations and sent employees home, a skeleton crew is staying behind for final shutdown checks. They will ensure no oil leaks from the machines and that nothing hazardous is left in the building. Those employees will remain for an additional three months and are receiving bonus pay. The plant has been a mainstay in Fairmont for over 100 years. It's closure has also impacted longtime residents emotionally. 'We have said goodbye to so many other factories in Fairmont during my lifetime,' Marcella Yaremchuck said. 'But this last goodbye seems to be the hardest.' Emotions have run high at the plant. Rice said he saw some of the employees cry. He said all the equipment is still at the plant, some of it brand new that hasn't even been used yet. It's sitting there waiting for someone else to come in and take over. Hines said some employees applied to work at the Novelis facility in Alabama. Hines' nephew actually runs the place. However, uprooting family and relocating is hard, so those five employees are carefully considering if they want to make the move, Hines said. As for employees who have left completely, Hines said between 10 and 15 went underground, to work in a coal mine. Those employees lacked the longevity at the company to get good severance, so they got out when they could, Hines said. Hines said rumors the plant would shut down surfaced every few years. Hines didn't pay to much attention to them, since they never came to pass. Until one day they did. The Times West Virginian reached out to Novelis for comment but they couldn't provide comment by press time. Fairmont City Manager Travis Blosser said the city has seen an amazing outpouring of support for the families and employees that will be affected by the closure. 'Several organizations and local companies have held job fairs specifically for the workers who need to find new employment arrangements,' Blosser said. 'We at the City will continue to work with Novelis and the state development office to ensure that property gets back into productive use as soon as possible.' Blosser said the City is committed to making Fairmont an attractive place to do business. However, the City's business environment may also feel the downstream effects of the plant's closure. Rice pointed out that plant employees spent their wages in Fairmont, procuring goods and services for themselves and their families. Rice added the loss of health insurance will mean a lot of patients will lose coverage and medical providers will lose patients. Rice is cautious with hope these days. There's rumors of another interested buyer. But after having their hopes dashed, no one wants to risk having their hearts broken again, he said. 'It hurt harder the second time than it did the first time,' Rice said. 'So people don't have very high hopes that it's going to open back up. But I hope it will. I have faith in it. That plant can't sit there, as nice of a plant as it is. It's kept up. I just don't see it sitting there for too long, empty.'
Bloomberg
04-06-2025
- Business
- Bloomberg
Aluminum Executives Balk at Trump's Latest 50% Tariff Move
US President Donald Trump's newly imposed 50% tariff on aluminum imports may be too much for consumers to accept and crush demand, industry executives warned. 'We're concerned about the potential for demand destruction' from the levy especially at the present level, said Derek Prichett, senior vice president of global metals at Novelis Inc., at Harbor Aluminum's 17th summit in Chicago.
Time of India
02-06-2025
- Business
- Time of India
New steel tariffs mixed bag for Indian companies making in US
Mumbai: While the US government's decision to double tariffs on steel and aluminium has led to renewed uncertainty, it is likely to be a mixed bag for domestic companies with a manufacturing presence in the US. The Donald Trump-led US government is set to double tariffs on the import of steel and aluminium to 50% from Wednesday. International media reports suggest that the move is aimed to protect workers in the US as the proposed takeover of US Steel by Nippon Steel could receive an approval soon. While most of the steel produced in India is consumed locally, higher tariffs in the US may lead to steel being dumped in other regions, including India, which could impact prices in the domestic market. JSW Steel , which has a steel manufacturing facility in Ohio in the US, saw its earnings before interest, tax, depreciation and amortization (EBITDA) loss narrow sequentially in the March quarter helped by an improvement in sales realisations. At its Plate and Pipe Mill in Texas, the company's EBITDA rose quarter-on-quarter, also helped by higher realisations. Both units also saw an improvement in their capacity utilisations in the March quarter compared to the December quarter, and the management was confident of the performance improving further. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký "Volumes have picked up, the prices have improved, and we do expect that going into this year, we should see positive contributions from overseas, especially US," Swayam Saurabh, chief financial officer of JSW Steel, said on a call to analysts recently. The Ohio unit produced 810,000 tonnes of steel in fiscal 2025, accounting for around 3% of the total crude steel produced by the company. "The company will see a positive impact, but it will be very marginal, so not significant in the larger scheme of things," said an analyst, not wishing to be identified. The other company which could potentially benefit from these tariffs is Hindalco Industries , which has a US-based subsidiary Novelis, and manufacturing units in the region. Live Events While Novelis did see an improvement in its net income and adjusted EBITDA per tonne on a sequential basis in the March quarter, analysts said the company's guidance has seen a marginal shift. While the management indicated that they were confident of getting exemption on the import duties in February, in May, Novelis' CEO Steve Fisher said a 'neutral to positive' impact was expected considering certain trade deals between countries were bound to happen. "We think that there will be a USMCA 2.0," he told analysts in May. "As soon as we have some of those (deals), particularly the USMCA 2.0, we will be going in that direction. So, you have to take this negative impact as something for the time being," he said. The USMCA is a free trade agreement that came into effect in 2020 between the US, Mexico and Canada. After Trump came to power in January this year, steel and aluminium were one of the earliest to be subjected to tariffs. "This is more of a sentiment thing because, if you see, there was not much of an impact even the last time, as steel safeguard duties helped offset the impact," another analyst said. On Monday, shares of Hindalco Industries , Jindal Steel and Power, Vedanta, Tata Steel and JSW Steel ended up 0.4-1.5% lower on the NSE while the Nifty 50 ended 0.1% lower.
Business Upturn
01-06-2025
- Business
- Business Upturn
Hindalco and Tata Steel shares in focus as Trump doubles import tariffs on steel and aluminium to 50%
By Aman Shukla Published on June 1, 2025, 11:18 IST Shares of Indian metal majors like Hindalco and Tata Steel may remain in focus on Monday after US President Donald Trump announced a steep hike in import tariffs on steel and aluminium. The tariffs, which will rise from 25% to 50%, are set to take effect from Wednesday, June 4. The announcement was made during a rally at a steel plant in West Mifflin, Pennsylvania, where Trump emphasized the need to protect and further strengthen the U.S. steel industry. 'Nobody's going to get around that,' he said. Later, in a social media post, he claimed the increase would provide a 'BIG jolt of great news' for American metalworkers. Impact on Indian Companies Steel India's direct steel exports to the US are limited. However, Tata Steel Netherlands exports approximately 700,000 tons of steel to the US annually. Some of this steel is not manufactured in the US, and may be affected by the new tariff rules unless exempted. Aluminium Hindalco's subsidiary Novelis is one of the largest aluminium recyclers and producers in the US. The tariff hike could increase the Midwest premium — which might benefit domestic producers. However, Novelis imports some of its raw material from Canada, and the cost impact depends on whether Canada receives a tariff exemption. At the 25% tariff level, Novelis had earlier indicated a potential $40 million quarterly hit, expected to start in Q1 FY26. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
