Novelis prepares for more growth in Asia

World leading aluminium canstock producer Novelis is preparing for future canmaking growth in Asia with the acquisition of the remaining stake in its Novelis Korea Ltd subsidiary, says Novelis chief executive Phil Martens.

Atlanta-based Novelis has reached agreement with minority shareholders to buy the outstanding 31.2 percent of shares in the Korean corporation it doesn’t own for about US$350 million in cash.

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