Alcan Inc., headquartered in Montreal, has announced that the publicly-traded company to be created in the spin-off of its aluminum rolled products business will be called Novelis.
CEO-designate Brian Sturgell says the name Novelis is grounded in three
concepts: "novel," "velocity" and "precision."
"First and foremost, our name will represent our new approach to the business, the opportunity for change, and our emphasis on speed-to-market and precise performance," Sturgell says. "We will have a keener focus on delivering better solutions, with speed and agility to add increased value to our rolled products customers."
Pending governmental and shareholder approvals later this year, Novelis
will begin operations as an independent company on Jan. 1, 2005. Novelis
will be the world's largest aluminum rolled products company -- based on
revenue and production volume -- with pro forma 2003 revenues of $6.2 billion. Shares of Novelis will be listed on the New York and Toronto stock exchanges.
Novelis will be housed in Canada, with its executive office in the
United States. The company will operate on four continents with 38 operating
facilities in 12 countries and more than13,000 employees. According to an Alcan press release, "Novelis will have the unique and unparalleled capability to provide its customers with a regional supply of high-end flat rolled aluminum products throughout Asia, Europe, North America and South America." The company will supply aluminum sheet products to the automotive and transportation, beverage and food cans, construction and industrial products, household foil and lithographic product industries. In addition, Novelis will be the world's largest recycler of aluminum beverage cans, according to Alcan.
"Novelis will be the only globally positioned aluminum rolled products
company focused solely on transforming ideas into added-value solutions for
our customers," Sturgell says. "Our people, precision and performance will
shape the future for Novelis."
Alcan employs 88,000 people and has operating facilities in 63 countries.
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