Novelis to Sell Italian Casting Plant

Atlanta-baseed Novelis Inc. has announced an agreement with Atlante Srla for the sale of land in Borgofranco, Italy, that  a Novelis casting alloys plant currently occupies. 

Novelis had previously announced its decision to close the facility, which employs 105 people, by the end of March 2006. 

Atlante Srla, a new Italian energy company, plans to develop a business on the site and will take possession of approximately three-quarters of the land on April 1, 2006, with the balance transferring at a later date, Novelis says in a press release. Novelis will retain responsibility for environmental remediation of the site, including the elimination of any remaining salt cake byproduct from the casting alloys operation.

"While a site closure is always difficult, we believe that this agreement
will provide the employees and the Borgofranco community the best possible
option for future jobs in the area. We very much appreciate the role that Mr.
Baruzzi, mayor of Borgofranco, has played in facilitating the transaction,"
Nick Madden, president of Can, Lithographic and Recycling for Novelis
Europe, says.

The closure of the Borgofranco operation is part of Novelis' larger review

Novelis has 36 operating facilities in 11 countries and more than 13,000 employees. The company supplies aluminum sheet and foil to the automotive and transportation, beverage and food packaging, construction and industrial, and printing markets.