Investment at Novelis Latchford supports a significant expansion of recycling capacity to substantially increase the recycled content and reduce carbon emissions in Novelis aluminium sheet.

ATLANTA, July 17, 2024 /PRNewswire/ -- Novelis Inc., a leading sustainable aluminium solutions provider and the world leader in aluminum rolling and recycling, today announced it is investing approximately $90 million to increase recycling capacity for used beverage cans (UBCs) at its plant in Latchford, UK. The project will increase the facility's recycling capacity for UBCs by 85 kilotonnes per year, equaling a growth of more than 100%.

"Of all the recycling players in the European market, Novelis has the highest ambition to maximize its recycled content across our product range," said Emilio Braghi, executive vice president of Novelis and president, Novelis Europe. "Globally, Novelis had an average of 63% recycled content in our products in fiscal year 2024. This investment marks a major milestone in our ambitious program to further expand our recycling capacity. It underscores our strong commitment to sustainability as we continue to drive the transformation of the aluminium industry towards full circularity and lead the market with innovative, high-recycled and low-carbon aluminium solutions."

The investment includes the construction of a new dross house, three new bag houses, and the installation of state-of-the-art shredding, sorting, de-coating, and melting technologies - enabling the plant to recycle a larger volume and new types of aluminium scrap, and to increase operational efficiency. The expansion of recycling capacity, as well as the implementation of advanced technologies, will result in an annual CO2e reduction of more than 350,000 tonnes for Novelis Europe.

The project is expected to begin commissioning in December 2026. Once complete, the facility will be able to recycle 100% of UBCs to be collected under the future UK deposit return scheme. This will create a local, fully circular system that will avoid the need to export scrap from the UK.

"The investment in Latchford strengthens our position in the UK market as the largest recycler of aluminum," said Allan Sweeney, plant manager of Novelis Latchford.

"Thanks to technological developments, we will be able to recycle all types of UBC scrap, fostering low-carbon and high-recycled content products that support not only our own ambitious sustainability goals, but those of our customers as well."

About Novelis
Novelis Inc. is driven by its purpose of shaping a sustainable world together. We are a global leader in the production of innovative aluminium products and solutions and the world's largest recycler of aluminium. Our ambition is to be the leading provider of low-carbon, sustainable aluminium solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage can and specialties industries throughout North America, Europe, Asia and South America. Novelis had net sales of $16.2 billion in fiscal year 2024. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminium and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai. For more information, visit novelis.com.

Forward-Looking Statements
Statements made in this news release that describe Novelis' intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. Examples of forward-looking statements in this news release include plans to increase its recycling capacity at its plant in Latchford by 85 kilotonnes, decrease CO2e by more than 350,000 tonnes for Novelis Europe, and start commissioning in December 2026. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty. 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. Important risk factors which could impact outcomes are included under the caption "Risk Factors" in the company's Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended March 31, 2024.

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