April 11, 2012 / 1:15 AM / 6 years ago

Novelis sees China aluminium demand up 7-8 pct/yr

SHANGHAI, April 11 (Reuters) - Aluminium demand is expected to grow at an annual rate of 7-8 percent in China and 4-5 percent globally, for an indefinite number of years, the chief executive of Novelis Inc said on Wednesday.

Phil Martens, CEO of the world’s top maker of aluminium rolled products and aluminium can recycling, was speaking in an interview before a news conference to announce the company’s construction of its first aluminium rolled facility in China.

The new factory is slated for completion in 2014 and will specifically target the local automotive sector, where the company already have a list of clients including Audi, BMW, Chrysler Ford, GM and Hyundai.

The company had earlier announced that it was selling three foil-manufacturing plants in Europe to focus on premium product markets such as beverage cans and automobiles.

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