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This year marks a remarkable milestone for Novelis: 20 years of innovation, sustainability, and leadership. Since we began in January 2005, we have transformed the aluminum industry through groundbreaking achievements and a steadfast commitment to our company’s Purpose of Shaping a Sustainable World Together.

Over the past 20 years, Novelis has redefined what’s possible in the aluminum industry. Take a look at some highlights from our incredible journey:

On January 6, 2005, Novelis launched as a biproduct of Alcan. Just two years later, in May 2007, we joined the Aditya Birla Group (ABG) under Hindalco, opening doors to global growth and new possibilities.

In July 2011, we began a new chapter in North America by investing in the Oswego Plant, paving the way for automotive as a key value stream in the region. By November 2011, we solidified our presence in Asia by acquiring full ownership of Novelis Korea, previously a joint venture.

Growth continued in April 2012 as we entered China with a single CASH line for automotive in Changzhou, followed closely by the opening of the Yeongju Recycling Center in October 2012. These milestones underscored our leadership in sustainable innovation.

By July 2013, we expanded Pinda’s capacity in Brazil by 50%, strengthening our South American operations. Shortly after, in October 2013, we increased production capacity in South Korea by 50%.

Sustainability remained our focus and in September 2014, Novelis achieved 50% recycled content, a bold milestone that set an industry benchmark. This was followed by completing the Nachterstedt Recycling Center in February 2015, cementing our commitment to world-class recycling.

The acquisition of Aleris in April 2020 transformed Novelis, expanding our reach with entry into aerospace. By December 2020, the Guthrie automotive line was operational, meeting growing automotive market demands in North America.

Our focus on carbon neutrality led to the creation of the Net Zero Lab Valais in February 2022. That same year, we broke ground on the Guthrie Recycling Facility in May 2022, invested in Sortera’s recycling technology in July 2022, and launched construction of facilities in Bay Minette and Ulsan in late 2022.

In May 2024, we reached an incredible milestone: 63% recycled content. Also in 2024, we set a new path forward, introducing Novelis 3×30, our bold roadmap to “Advance Aluminum as the Material of Choice with Circular Solutions” by achieving three critical objectives by 2030.

We’re proud of these achievements and look forward to an even more sustainable future ahead!

Dev Ahuja was recently featured in an episode of the CFO Thought Leader podcast.  The podcast takes a deep dive into the careers of finance leaders while chronicling their journey. 

“A CFO’s success is driven by much more than functional expertise.  You must be able to influence outcomes and take input from stakeholders, learn quickly from failures and triumphs, and exercise good judgement.  Above all, focus on people – a strong talent pipeline is a core factor for driving success,” said Ahuja.

To hear more of Ahuja’s thoughts and listen to the podcast in full, please click the link below

922: The Lessons We Learn | Dev Ahuja, CFO, Novelis

Novelis issued its second Green Bond report, which highlights the company’s sustainability focused investments funded by a Green Bond.

As it leads the way in decarbonizing the aluminum industry, Novelis shares news of its investments and how they enhance the company’s ability to deliver innovative, sustainable solutions and meet its ambitious goals for reductions in carbon emissions, energy use, water use and landfill waste.

“These projects demonstrate that Novelis is successfully carrying out its purpose of ‘Shaping a Sustainable World Together’ by funding investments that significantly lower the carbon emissions of our manufacturing operations and enable us to continue to increase the recycled content of our products, which are already at industry-leading levels,” said Steve Fisher, Novelis President & Chief Executive Officer. “Innovation is the driving force behind change as Novelis and our customers work together to create a more circular economy for aluminum.”

Read the report here.

Novelis Vice President and Chief Financial Officer Dev Ahuja joined the Wall Street Journal to discuss how the company is employing artificial intelligence and other advanced technologies in our financial function.

“Having some quick wins can be a big motivator to get on to larger projects,” Mr. Ahuja said. “It is more about empowering the organization, really creating the right vision, and then having a team work through where the opportunities are,” he said. 

Read the full article here.

Please be aware that as of January 16, 2023, Novelis’ global corporate and North America headquarters has relocated to One Phipps Plaza.

Novelis is the first occupant and naming partner for One Phipps Plaza. Our 90,000-sq.ft. offices on the top three floors are intentionally designed for a hybrid work model with a safe, friendly and attractive atmosphere for employees and guests.

“It’s exciting to turn our vision into a reality as we build out our vibrant new workplace at One Phipps Plaza where our employees can go to collaborate, create and connect with others”, said Novelis CEO Steve Fisher.” We’re proud to combine the flexibility our teammates desire with an enjoyable office experience – and an overall focus on preserving and protecting our environment.”

The new Novelis headquarters will be both LEED Gold and Fitwel certified.

Additionally, One Phipps Plaza and the entire construction phase of the Phipps Plaza redevelopment project showcase the workplace of the future with eco-friendly features that promote environmental sustainability and cost savings. These include a projected 15% drop in total energy costs and reduced water usage for landscape and irrigation (50% less than baseline) and interior flush and flow fixtures (15% reduction).

Please note our new mailing address:

Novelis
One Phipps Plaza
3550 Peachtree Road
Suite 1100
Atlanta, GA 30326

Transaction diversifies product portfolio with addition of aerospace; enhances strategic position in Asia.

ATLANTA, April 14, 2020 — Novelis Inc., the world leader in aluminum rolling and recycling, today announced the completion of its acquisition of Aleris Corporation, a global supplier of rolled aluminum products. As a result, Novelis is now even better positioned to meet increasing customer demand for aluminum by expanding its innovative product portfolio; creating a more skilled and diverse workforce; and deepening its commitment to safety, sustainability, quality and partnership.

“The Aleris deal marks a major milestone for Novelis, on its path to global leadership. The closure of this deal amidst challenging market conditions, reflects our conviction in the Aleris business and its value to our metals portfolio. Periods of turmoil have historically seen the emergence of champions, powered by quality leadership and sound business fundamentals. This is a long- term strategic bet, much like Novelis was in 2007,” said Kumar Mangalam Birla, Chairman Aditya Birla Group and Novelis Inc. “The Aleris deal crucially enables the further diversification of our metals portfolio into other premium market segments, most notably aerospace. Through the creation of an industry champion, we are reinforcing our commitment to our customers, employees and shareholders. At the same time, with this further expansion in our aluminum portfolio, we have taken a decisive step towards a more sustainable future.”

With the addition of Aleris’ operational assets and workforce, Novelis is poised to more efficiently serve the growing Asia market by integrating complementary assets in the region including recycling, casting, rolling and finishing capabilities. The company will also add aerospace to its portfolio and enhance its ability to continue to bring innovative products to market, by strengthening its research and development capabilities and deliver on its purpose of shaping a sustainable world together.

“Today is a transformational moment in our company’s history, and I’ve never been more confident in our ability to deliver even more value to our customers, colleagues and the communities where we live and work,” said Steve Fisher, President and CEO, Novelis Inc. “With a world-class workforce, a presence in the most competitive and technically demanding endmarkets, and the ability to deliver rapid, adaptive and sustainable solutions, Novelis will be able to even better serve our customers.”

Beyond its many strategic benefits, the acquisition will generate approximately $150 million in synergies and creates a strong financial profile. In addition, combined net debt to Adjusted EBITDA of approximately 3.3x is within the recently updated guidance of below 3.5x and well below the initial outlook of below 4x when the transaction was announced.

The closing purchase price of $2.8 billion consists of $775 million for the equity value, as well as approximately $2.0 billion for the assumption or extinguishment of Aleris’ current outstanding debt and a $50 million earn-out payment. Legacy Aleris debt levels have increased since the initial acquisition announcement due to rise in working capital to support the ramp up of operations, while the earn-out is related to stronger than expected performance by Aleris’ U.S. business. On a trailing twelve-month basis ending December 31, 2019, standalone Aleris Adjusted EBITDA stood at $388 million, higher than that estimated at the time of deal announcement. Despite increased legacy debt, the implied enterprise value multiple of 7.2x, is in line with our acquisition case, on account of better EBITDA performance.

“This acquisition strengthens Novelis’ leadership position in the aluminum industry and clearly defines Hindalco Industries as the preeminent company in the global metals sector,” said Satish Pai, Managing Director of Hindalco Industries and Director, Novelis Inc. “I am proud of the work the Novelis and Aleris teams have done to close this transaction and thereby position Novelis for future growth and success.”

Novelis will acquire Aleris’ 13 plants across North America, Europe and Asia; however, to satisfy regulatory conditions, the company is required to divest Aleris’ plants in Lewisport, Kentucky, U.S.A., and Duffel, Belgium, as announced earlier.

View a video message from Novelis Inc., President and CEO Steve Fisher here.

About Novelis

Novelis Inc. is driven by its purpose to shape a sustainable world together. As a global leader in innovative products and services and the world’s largest recycler of aluminum, we partner with customers in the automotive, beverage can and specialties industries to deliver solutions that maximize the benefits of sustainable lightweight aluminum throughout North America, Europe, Asia and South America. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India. For more information, visit novelis.com.

About Aleris

Aleris is a privately held, global leader in aluminum rolled products serving diverse industries including aerospace, automotive, building and construction, commercial transportation and industrial manufacturing. Headquartered in Cleveland, Ohio, Aleris operates production facilities in North America, Europe and Asia.

Novelis and Aleris Financial Information

Any combined financial information included in today’s release is preliminary, unaudited and does not give effect to adjustments that would be required under Article 11 of Regulation S-X, does not give effect to purchase accounting adjustments and presentation requirements relating to Aleris’ Lewisport, Kentucky and Duffel, Belgium plants as discontinued operations, and has not been reviewed by our independent registered public accounting firm. The company will provide required pro-forma financial information in a future filing on Form 8-K. Additional financial information about historical results for Novelis can be found in the investors section of the Novelis website, http://investors.novelis.com/, and in its filings with the SEC. Historical financial information for Aleris can be found in its filings with the SEC.

Forward-Looking Statements

Statements made in this news release which describe Novelis’ intentions, expectations, beliefs or predictions may be forward-looking statements within the meaning of securities laws. Forward-looking statements include statements preceded by, followed by, or including the words “believes,” “expects,” “anticipates,” “plans,” “estimates,” “projects,” “forecasts,” or similar expressions. Examples of forward looking statements in this news release include the impact of the acquisition on Novelis’ ability to deliver even greater value to its constituencies, Novelis being poised to more efficiently serve the Asia market, Novelis’ enhanced ability to bring innovative products to market, Novelis’ strengthened R&D capabilities, the strategic benefits of the transaction and the expected synergies resulting from the acquisition. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty and Novelis’ actual results could differ materially from those expressed or implied in such statements. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that could cause actual results or outcomes to differ from the results expressed or implied by forward-looking statements include, among other things, the factors included under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended March 31, 2019. In addition to factors previously disclosed in Novelis’ reports filed with the SEC and those identified elsewhere in this press release, the following factors related to the Aleris acquisition, among others, could cause actual results to differ materially from forward-looking statements or historical performance: difficulties and delays in integrating the Aleris and Novelis businesses; and failing to fully realize anticipated cost savings and other anticipated benefits of the acquisition of Aleris.

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On Wednesday, October 3, Steve Fisher delivered the keynote address at the fifth annual Financial Times (FT) Future of Manufacturing Summit in London.

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On October 5, Novelis joined more than 1,600 other manufacturers to celebrate National Manufacturing Day. This year, there is much to celebrate. According to the Bureau of Economic Analysis, manufacturers contributed $2.33 trillion to the U.S. economy in the first quarter of 2018. (more…)
By Dev Ahuja, Senior Vice President and CFO, Novelis Inc.

We are living in a world marked by ever-accelerating pace of change and disruption driven by rapid innovation enabled by technology and communications. The Fortune 500 list of most valuable companies and Forbes most valuable brands is now dominated by names which were either insignificant or did not even exist one to two decades earlier. Knowledge companies are unseating those who had dominated the space for many decades. All the top names in the list have disrupted entire industries and forever redefined the rules of doing business.

On the political and economic side in the last two decades, global events of seismic proportions have come together to reshape the world we are living in. From the Cold war and the creation of a single Euro currency, to 9/11 and the 2008 financial crisis, the world is a decidedly different place and will continue to change as global events impact more and more people.

Continuous innovation, change and learning agility are differentiating the companies, countries and people who are leading versus those who are lagging.  Not being at the forefront of change and innovation, both at an organizational and an individual level, is a sure shot recipe for losing relevance in the emerging world order.

How we got here

First, let’s take a moment to set the stage. As technology and communications have revolutionized business and trade, what other changes have driven the seismic shift in the global order?

The decades between 1990 and 2010 were marked by dramatic and far-reaching changes. From the creation of a single North American trade zone under NAFTA to the launch of the Euro currency, the theme of interconnectedness has run through much of this period. The emergence of the Internet as an unprecedented information resource and communications tool for mass public and commercial audiences only served to underscore and hasten moves to erase old physical and technological boundaries.

The new global level of interconnectedness became apparent in the shockwaves from the 2008 U.S. financial crisis. Its origins were in a very domestic issue, U.S. housing prices. But the impact on commercial lending, credit, financial markets and Main Street businesses quickly led to recessionary trends across the globe.

Value shifts from brick and mortar to knowledge and innovation

Retail has also been a showcase for the power of connectivity. New digital enterprises recognized the Internet’s inherent power of scale and were able to jump ahead of traditional brick and mortar retailers in the price, variety and speed of their offerings. We have seen the resulting decline in relevance for once-iconic brands like Sears and Macy’s. Even some winners of the 1990s – the “category killer” big-box stores – have ultimately fallen victim to the success of e-commerce. Think of Borders or Radio Shack.

The technology revolution is clear when you look at the Fortune 500. In 1980, the Top 10 companies were almost all in oil and gas or manufacturing. By 2016, the Top 10 was a much more diverse group that included Apple and AT&T. From another perspective, the American Enterprise Institute compared the composition of the entire Fortune 500 in 1995 and 2016 and found only 38 percent of companies on both lists. In other words, 62% of companies fell out of the Fortune 500 in that period, a turnover rate of 14 companies per year on average.

Changing world, changing populations

But it’s not just businesses that have changed. The makeup of countries has changed in this period as native-born populations in the West have aged while immigration ramped up.

We now have populations that are more diverse in most major developed economies.  For example, in the United States, the Caucasian population dropped from 80 percent in 1990 to just over 60 percent in the 2010 census, with people of Hispanic and Asian origin making up most of the newcomers. That trend is only expected to continue and already the majority of children under age 5 in the U.S. are non-white.

Another factor is that lower GDP growth around the world complicates business shifts and demographic evolution further. Investments and decision-making are easier in an environment of growth and prosperity, but fraught with complexity and compromise in the face of weak growth. The pressure to make the right strategic decisions and investments is heightened when growth is the exception, and not the norm.

What globalization means for skills development

The war for talent is intense. Organizations at the leading edge of innovation and change are those who also have leading edge talent. Top talent is gravitating to change and innovation agile organizations where narrowly defined specialized skills, long experience or raw intelligence are no longer enough. In today’s world, leadership and success are more associated with soft skills such as change management, learning agility, collaboration and innovation.

Winning in a globalized world

Talent therefore is a critical element businesses need to maintain and grow their competitive edge in the era of globalization. To properly leverage talent, businesses must also develop other attributes to stay ahead in a globalized marketplace.

The first is embracing disruption and committing to innovation. The fate of many brick-and-mortar brands shows that protecting traditional models is no longer possible. Look at the impact Uber and Lyft have on taxi companies and car manufacturers. Constantly preparing for disruption and seeking to drive it through innovation will determine the companies that thrive and those that barely survive.

Capital allocation is more critical than ever. Resources are limited and risk management is critical to ensure that risks are addressed and investments are clearly targeted, while allowing enough space for failure. Experimenting and learning needs to become part of an organization’s DNA.   Rewarding failures is as important as rewarding success in order to build a leading edge business.

Globalization through the lens of Novelis

As a company that operates in 10 countries on four continents, Novelis embraces the forces of globalization with the backing of the Aditya Birla Group (ABG), India’s largest multi-national conglomerate spanning 36 countries and 120,000 employees. Because of that support, Novelis has the strategic flexibility to tap into ABG’s upstream assets and capabilities, immense financial strength and diversity of employees allowing us embrace safety, innovation and collaboration to shape a more sustainable future every day, in all of our operations.

We are also leveraging our global capabilities and intellectual diversity. Our business is rooted in innovation as the world’s leading producer of automotive aluminum sheet for the fast-growing sector of fuel efficient, hybrid and electric vehicles. We see ourselves as a partner-of-choice playing an integral role with leading-edge technology companies like NIO and others.

We achieve this innovation, in part, through close collaboration with our customers. As we better understand the disruptions and forces they face, we partner to create the solutions that lead to commercial success as well as a more sustainable environment. For example, in efforts to reduce costs while increasing sustainability, we created a closed-loop recycling program with key customers, Ford Motor Company and Jaguar Land Rover, in which scrap metal is collected and reused in the production of automobiles.

As we commit ourselves to innovation and sustainability, we never lose sight of safety. Safety is the foundation of all we do, as our employees are our most important asset. From the CEO down, everyone’s job is safety-focused. Investment in trainings, assessments and communications all help ensure that we are able to realize our business objectives in a safe manner.

The path ahead

Globalization is not going away.  In fact, if we have learned anything from the 21st century, it is that we should expect even more rapid and volatile changes. Populations will continue to grow more diverse and interwoven across old national boundaries, connecting cultures and countries. Technology will continue to break down silos and heighten expectations of communications. Businesses will continue to be called upon to address commercial and social needs and opportunities. Knowledge will continue to drive market capitalization.

The factors that created globalization – digitization, rapid pace of change, lower GDP growth and changing demographics – are only growing in impact. Which is why Novelis is embracing a new paradigm to succeed in a globalized world. We have renewed our purpose to shape a sustainable future by leading in the fields of lightweighting, recycling and innovative partnerships. That combined with our social purpose and investments in our people have resulted in sustained financial performance and position us for continued growth and prosperity. And while challenges vary across industry, other companies that create a paradigm to best fits their needs will also be able to successfully compete in a globalized world.