Metals and Mining
Company Overview of Novelis Inc.
Novelis Inc. produces and sells aluminum rolled products. It operates through four segments: North America, Europe, Asia, and South America. The company produces aluminum sheet and light gauge products primarily for use in the beverage can, automotive, consumer electronics, architecture, transportation, and foil markets. It is also involved in the primary aluminum smelting and hydroelectric power generation activities in Brazil. The company was founded in 2004 and is headquartered in Atlanta, Georgia. Novelis Inc. is a subsidiary of Hindalco Industries Limited.
3560 Lenox Road
Atlanta, GA 30326
Founded in 2004
Key Executives for Novelis Inc.
Chief Executive Officer and President
Chief Financial Officer and Senior Vice President
Senior Vice President and President of Novelis South America
Senior Vice President and President of Novelis Europe
Senior Vice President and President of Novelis North America
Compensation as of Fiscal Year 2014.
Novelis Inc. Key Developments
Novelis Inc. Provides CapEx Guidance for the Year 2015
May 16 14
Novelis Inc. provided CapEx guidance for the year 2015. For the period, the company expects CapEx to decrease and be between $500 million to $550 million.
Novelis Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended March 31, 2014
May 16 14
Novelis Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended March 31, 2014. For the quarter, the company reported net sales of $2,549 million against $2,500 million a year ago. Income before income taxes was $39 million against $73 million a year ago. Net income attributable to common shareholder was $54 million against $59 million a year ago. EBITDA was $200 million against $221 million a year ago. Adjusted EBITDA was $250 million against $240 million a year ago.
For the year, the company reported net sales of $9,767 million against $9,812 million a year ago. Income before income taxes was $115 million against $286 million a year ago. Net income attributable to common shareholder was $104 million against $202 million a year ago. Net cash provided by operating activities was $702 million against $203 million a year ago. Capital expenditures were $717 million against $775 million a year ago. EBITDA was $746 million against $871 million a year ago. Adjusted EBITDA was $885 million against $961 million a year ago. Negative cash flow was $16 million against $565 million a year ago.
National Labor Relations Board Charges Novelis with Violating Labor Laws in its Response to Workers' Efforts to Organize a Union at its Oswego Facility
May 14 14
The National Labor Relations Board (NLRB) charged Novelis with violating labor laws in its response to workers' efforts to organize a union at its Oswego, N.Y., facility. Novelis, which also has other unfair labor practice charges pending before the NLRB related to its interference in the effort to unionize its 600 hourly workers, is charged with illegally threatening job loss, plant closure, wage reductions and with providing benefits to employees in order to dissuade them from voting to join the USW. In addition, the company is accused of manipulating documents to make it appear that the union was behind a plan to rescind those benefits. Due to the particularly outrageous behavior of Novelis management, the NLRB may ultimately compel Novelis to recognize the USW as the bargaining representative of Novelis-Oswego employees without holding a new election.
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