novelis has no plans to buy arco stake

摘要

US naluminum sheet maker Novelis dismissed market speculation nFebruary 8 that it had plans to buy BP’s 60% stake in US naluminum sheet maker Arco Aluminum. Market sources nspeculated in late January that Atlanta-based Novelis, a n40% partner with Arco Aluminum (60%) in Logan Aluminum, na rolling mill located in Logan, Kentucky, would be the nmost likely candidate due to its synergies with Logan. But nNovelis President and CEO, Philip Martens, told an analysts’ nearnings call last week the company was content in its ncurrent position. “I think everyone is aware that there is some nmarket speculation that the Arco side of the business is being nmarketed, but our position with Logan is frankly something nthat we are very comfortable with. We will maintain our share nas it is today and we will continue to invest in Logan as we nview it as a premium rolling mill,” Martens said.