Hindalco looks to world sports events to boost aluminium sales
Hindalco Industries, the world's biggest supplier of aluminium for cans, is counting on next year's soccer World Cup and the 2016 summer Olympics in Brazil to buoy demand amid sagging sales at home in India.
Novelis, a unit of the company controlled by billionaire Kumar Mangalam Birla, has spent about US$340 million in the South American country to expand recycling and rolled aluminium capacities, vice-chairman Debnarayan Bhattacharya said.
"We expect a surge in consumption, and with football World Cup and the Olympics coming consecutively, I have no doubt that we will do very well," he said. "Hopefully we will start serving from Brazil's expanded unit in another month or so."
Novelis, which supplies to the world's biggest drinks-can maker Rexam plc, and to Coca-Cola and Anheuser-Busch InBev, started its new capacity in Brazil last month.
Source: Business Times