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HINDALCO - Hindalco Industries News Story

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Basic Materials
Large Cap
Market Cap £9.49bn
Enterprise Value £14.46bn
Revenue £16.53bn
Position in Universe 54th / 3176

BRIEF-Novelis enters joint venture with Kobe Steel in South Korea

Wed 10th May, 2017 3:00am
May 9 (Reuters) - Novelis Inc  
    * Novelis enters joint venture with Kobe Steel In South 
    * Novelis says JV, to be named Ulsan Aluminum will be formed 
by  selling Kobe Steel 50 percent of interest in its Ulsan, 
South Korea facility for $315 million 
    * Novelis and Kobe Steel will jointly own and operate Ulsan 
facility, with each remaining responsible for its metal supply 
and commercial relationships 
    * Novelis says joint venture transaction is expected to 
close in september 2017 
Source text for Eikon:  ID:nPnbDl7nKa  
Further company coverage:  NVLX.UL  
 ((Bangalore.newsroom@thomsonreuters.com; ;))
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