Novelis names new South American president

- Friday, August 12, 2011

Novelis names new South American president

US-based aluminum rolled products producer Novelis (NYSE: NVL) announced that Marco Antonio Palmieri has been appointed senior VP and president of Novelis South America, effective August 22.

Palmieri will replace Alexandre Almeida, who is leaving the company to pursue other business interests, and he will be confirmed as an executive officer at the next board meeting, Novelis said in a statement.

Novelis is the leading producer of flat rolled aluminum products in Brazil and is currently investing US$300mn to expand its plant in São Paulo state's Pindamonhangaba municipality.

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The expansion, expected to come on stream in late 2012, will boost capacity by more than 50% to over 600,000t/y of aluminum sheet, making it the largest aluminum rolling mill in South America.

In the country, Novelis also operates South America's largest recycling center, which has capacity of 80,000t/y.

Novelis is a subsidiary of Indian aluminum-copper producer Hindalco Industries.