$2.5 Billion Low Carbon Recycling & Rolling Plant Investment Meets Growing U.S. Aluminum Demand
Aluminum Industry Investments Top $6.5 billion in Last Decade
Charles Johnson, president & CEO of the Aluminum Association, issued the following statement following today’s announcement by association member company Novelis of a $2.5 billion greenfield low carbon aluminum rolling mill and recycling facility in Bay Minette, AL:
"This is incredibly exciting news for the domestic aluminum industry and we congratulate Novelis on this historic investment. Demand is growing and our companies are meeting the moment with a continued commitment to U.S.-based manufacturing and jobs. America is one of the best places in the world to make aluminum for five big reasons:
- Shifting consumer preference for more recyclable and sustainable materials;
- A bipartisan commitment to strong trade enforcement;
- An increased focus on sustainability and circular production both globally and domestically;
- A pivot to a more electrified world;
- Historic investment in American infrastructure.
Today’s announcement represents the largest single investment in U.S. aluminum production in many decades and we look forward to continued and sustained growth for this industry in the coming months and years.”
Estimated aluminum demand in North America was up 7.7% year-over-year in 2021, significantly outpacing U.S. GDP growth. Including today’s announcement, the industry has collectively committed or invested nearly $3.5 billion in U.S. manufacturing over the past year – and more than $6.5 billion over the past decade. The international picture is also positive. The International Aluminum Institute recently released a report developed by CRU Aluminum projecting that aluminum demand will grow by nearly 40% globally by 2030 – with significant growth in North America.
To learn more about how the aluminum industry is investing in the future of U.S. manufacturing visit https://www.aluminum.org/investment.