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Hindalco Industries Ltd.’s shares were up by 1.23 per cent after the company announced that its subsidiary, Novelis Inc., has recently inked a long-term contract with Ball Corporation, North America. This agreement solidifies Novelis as the exclusive supplier of aluminum sheets to Ball’s can-making facilities across North America.
Both Novelis and Ball are advancing their sustainability objectives through this partnership. The contract incorporates closed-loop recycling initiatives and collaborative efforts to enhance beverage can recycling. Through closed-loop programs, Novelis retrieves manufacturing scrap from the can-making process and repurposes it into new can sheets, which are then fashioned into fresh beverage cans.
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Novelis anticipates a 3 per cent compounded annual growth rate in global demand for aluminium beverage can sheet from 2022 to 2031. This surge is propelled by consumer preferences for sustainable products, a wider variety of sizes, and the increasing adoption of cans for various beverages, including water, energy drinks, soda, beer, wine, hard seltzers, and ready-to-drink cocktails.
The shares were up by 1.23 per cent to Rs. 489.60 at 9.35 a.m. on the BSE.
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