Novelis will operate as a subsidiary of Hindalco, with increased financial stability and access to funding.
In response to the changes Novelis Recycling National Manager Andy Doran said: It is very good news for Novelis. Hindalco and Novelis have complementary strengths and the marriage of the two will be a very happy affair.
In the UK it will be business as usual, with no major changes planned. We will still trade under the Novelis name and while there may be some minor rebranding at some point, it is generally a very positive move.
Hindalco is the flagship company in the Aditya Birla Group, which contains global diversified companies.