Dive Brief:
- Novelis announced the completion of a $48 million investment at its facility in Oswego, NY.
- The aluminum rolling and recycling company said the expansion was necessary to keep up with the growing demand for automotive sheet.
- The 81,000 square foot recycling plant processes, sorts, and stores scrap aluminum produced at the production plant.
Dive Insight:
Novelis said the recycling facility is equipped with “best-in-class” scrap recovery and conversion technology. The plant can produce 10,000 tons of recycled scrap monthly, when operating at 100%.
The firm predicts sales of aluminum used for vehicles could comprise 25% of its shipemtns by 2020 (the rate currently stands at 9%). 80% of the Oswego plants’s capacity will be dedicated to the auto market.