Novelis Inc. acknowledged that it is currently in discussions about the possible sale off the company. Novelis is a manufacturer of aluminum rolled products and aluminum can recycling. It was spun off from Alcan about two years ago.
According to a number of reports, Indian company Hindalco has been identified as a company that is looking at acquiring Novelis. Hindalco is the largest copper and aluminum manufacturer in India and the fourth largest in Asia.