Novelis Inc., the world leader in aluminum rolling and recycling, today announced that it has completed the sale of its North American consumer foil products business to Reynolds Consumer Products LLC for $33.75 million.
The transaction includes foil manufacturing plants in Toronto, ON, and Vancouver, BC, in addition to sales offices and distribution facilities located in Montreal, QC; Mississauga, ON; and LaGrange, Ga.
“Our growth plan at Novelis is focused on expanding our recycling leadership and providing premium rolled aluminum products in the automotive, beverage cans, light gauge and specialties markets,” said Marco Palmieri, Senior Vice President of Novelis and President of Novelis North America. “The consumer foil products business, while successful, is not aligned with this strategy.”
