Novelis enters new aluminum beverage can sheet agreement with Ardagh Metal Packaging
This new contract is the third major one that Novelis has signed in less than seven months for the beverage packaging market in North America.
"Finalizing another meaningful customer agreement in North America is a testament to the strength of the beverage packaging market in the region, which is being driven by consumer desire for more sustainable choices," said Steve Fisher, president and CEO of Novelis. "Given its ability to be easily recycled back into the same product, the aluminum beverage can is a model of sustainable packaging."
This latest contract comes as Novelis is building a new rolling and recycling plant in Bay Minette, Alabama. Novelis says that the plant will be the first fully integrated aluminum plant built in the U.S. in nearly 40 years and will have an initial capacity of 600,000 tonnes of finished goods for the North American beverage packaging and automotive markets.
Novelis expects global demand for aluminum beverage packaging sheets to grow at a four percent compounded annual growth rate between 2023 and 2031. The demand growth is driven by consumer preference for more sustainable products and size variety, as well as more beverage types being packaged in cans, including water, energy drinks, soda, beer, wine, hard seltzers, and ready-to-drink cocktails.