Novelis, a unit of Hindalco Industries, the world’s largest supplier of aluminium for cans, has revealed that it is hoping Brazil’s 2014 football World Cup and 2016 Olympics will buoy demand for its product amid falling sales in India.
Novelis has spent roughly US$340m in Brazil on expanding its recycling and rolled aluminium capacities at its Sao Paulo site. The company, which supplies aluminium to the world’s biggest drinks can maker Rexam and to Coca-Cola, expects a surge in consumption due to the consecutive sporting events. The recent expansion at the Sao Paulo plant will increase capacity by more than 50%.
Hindalco is looking to events like this to help it cope with falling prices caused by the global surplus of aluminium and Indian sales that recently fell to a two year low. During the London 2012 Olympics, Coca-Cola alone estimated that it served 23 million drinks over an eight week period. If served in cans, this equates to roughly 338t of aluminium.
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