Flash news
Floods in Switzerland: Novelis (Hindalco Industries/Aditya Birla Group; manufacturer of flat-rolled aluminium/aluminum products for automotive, aerospace, beverage packaging industries with 13,190 employees in 32 plants in 9 countries; customers: Volkswagen, Audi, Porsche, General Motors, GMC, Cadillac, Chevrolet, Ferrari, FCA/Stellantis, Maserati, DS Automobiles, Nissan, Toyota, Volvo, Daimler, Mercedes-Benz, Nio, Honda, Hyundai, BMW, JLR/Jaguar Land Rover, Ford, Renault, Rivian, Samsung, Denso) expects to resume production in Sierre, Switzerland by end of September. Company estimates total net cash impact from factory flooding to be USD 80 million (after insurance – plant is insured for property damage and business interruption losses, subject to deductibles and policy limits) and net impact to EBITDA to be USD 30 million
August 9, 2024 | 10:58am CETflash
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