Facility, part of the company’s $400 million expansion in Asia, will recycle up to 256,000 tons of aluminum a year.
ATLANTA—Novelis is opening an aluminum recycling and casting centre at its Yeongju facility in South Korea as part of the company’s $400 million expansion efforts in the Asian country.
The new operation will be the largest aluminum beverage can recycling center in Asia.
Novelis says Asia is the world’s fastest growing market for rolled aluminum used to create beverage cans, cars and consumer electronics.
The company says it will increase the recycled content of its rolled aluminum products to 80% by 2020. The South Korean facility is the first step in its plans to increase its recycling capacity to 2.1 million tons by 2015.
The new facility will have an annual capacity of 265,000 tons, and will increase Novelis’ consumption of recycled aluminum to over 1.4 million tons per year.
Used aluminum beverage cans and other aluminum scrap will be processed by the new facility for re-melting and casting into sheet ingot that will be rolled at the company’s Yeongju and Ulsan plants. When running at full capacity, the new operation will add nearly 80 new positions to Novelis’ 1200 employee workforce in Korea.
Novelis Inc. operates in 11 countries, including four facilities in Canada, recycling aluminum and rolling it for automotive, packaging and other industrial applications.
The company, spun off by metal-giant Alcan in 2005, was acquired in 2007 by Hindalco Industries Ltd., one of Asia’s largest producers of aluminum and copper.