Novelis has reported a net income of $6 million for the third quarter of fiscal year 2016. Excluding tax-effected special items, the company reported net income of $32 million in the third quarter of fiscal 2016 compared to $54 million in the third quarter of fiscal 2015.
non-ferrous metals
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According to the Belgian company’s statement, revenues were up by 11 per cent compared to 2014 with with strong growth in Catalysis and Energy & Surface Technologies more than offsetting the impact of lower metal prices on the recycling activities.
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Novels has published its 2015 sustainability report today, detailing significant progress toward increasing the use of recycled aluminum and using natural resources more efficiently.
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Together with strong market growth the quantity of recycled aluminium packaging reached an all-time high in 2014.
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For the first nine months of 2015, sales were also significantly lower than those of the previous year.
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MarketNon-ferrous metals
Non-Ferrous Metals: Sector faced with “diminishing margins, rising costs and low confidence”
2015 has been “a very tough year” in which the “bad economic climate” has led to adverse effects on companies’ budgets and employment plans. So said the BIR Non-Ferrous Metals Division’s President David Chiao of the Uni-All Group in the USA at the body’s meeting in Prague on October 26.
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Umicore today announced plans for significant investments at its site in Olen, Belgium. The investments, which are likely to total some €25 million, would centre on the upgrade of the cobalt refining and recycling plant. They would also involve the modernization of a number of on-site facilities in order to further improve the EHS performance of the site.
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The Silver Institute has released “Silver Scrap: The Forgotten Fundamental,” a report produced by Metals Focus on behalf of the Silver Institute. The study provides detailed information on recycling broken down by region and by five sectors: industrial end uses, photography, jewelry, silverware and coins. This analysis then forms the bedrock for the forecast in scrap volumes out to 2017 and how those volumes might vary with price.
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Novelis today reported a net loss of $60 million for first quarter of fiscal year 2016. Excluding certain tax-effected items, the company reported net income of $24 million in the first quarter of fiscal 2016 compared to $28 million in the first quarter of fiscal 2015.
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New Design Helps Workers to change the belt in 10 minutes.
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Umicore today announced a new, simplified reporting structure consisting of three business groups. The clustering is aligned with the strategic priorities of the Group and anticipates the planned divestment of the company’s zinc-related activities. The Building Products and Zinc Chemicals business units will be reported separately until their effective divestment.
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