Aluminium rolling and recycling giant, Novelis (NYSE: NVL) has begun construction of a $250 million aluminium recycling and casting centre at its plant in Nachterstedt, Germany.
The Atlanta, Georgia based company said that the new facility is being built adjacent to its existing aluminium rolling mill and will enable it to produce 400,000 tonnes of aluminium sheet ingot from recycled material annually.
Novelis also claimed that once complete the new plant is projected to be the world's largest aluminium recycling centre.
According to the company new recycling facility will help support the its drive to increase end-of-life recycling in Europe.
The centre will process used beverage cans as well as numerous other forms of aluminium scrap collected from across continental Europe, where Novelis said that it is already the leading recycler of aluminium beverage cans.
"The advanced sorting, processing and casting capabilities of the new Nachterstedt operation will propel us closer to our goal of 80% recycled content by 2020,” explained Phil Martens, president and chief executive officer for at Nevelis.
The Nachterstedt investment is the latest in a series of recycling and casting expansion projects launched by the company, which it said have amounted to nearly $450 million over the past two years and include the recent commissioning of the its new integrated recycling and casting centre in Yeongju, Korea.
The company said that it expects the centre to create 200 new jobs when it is commissioned in mid-2014.
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