Novelis will be closing its Louisville, Ky., plant by the second quarter of the year. The plant made light-gauge converter foil products.
The decision to shut the plant follows the company’s announcement, made last year, that it would exit the light gauge converter foil market in North America. Novelis initially attempted to sell the facility, but was unable to find a buyer.
"Global over-capacity has created very challenging business conditions in the North American market for light gauge converter foil," said Kevin Greenawalt, president, Novelis North America. "We've taken aggressive steps to reduce costs but with ongoing oversupply issues, we have reached the conclusion that we must reduce Novelis' participation in the North American converter foil market."