India’s Hindalco sees up to $1.6 billion impact from fire at unit’s New York plant
- Hindalco had said in November that the incident would hit cash flow by $550 million to $650 million
India’s Hindalco said on Wednesday the fire at the New York plant of its U.S. unit, Novelis, will hit the miner’s 2026 cash flow by $1.3 billion to $1.6 billion, and that it aims to restart the mill toward the end of the second quarter.
Earlier in the day, Ford Motor flagged that it saw lower production in the fourth quarter due to the Novelis fires, with a partial recovery expected in 2026.
Hindalco unveils $2.3 billion aluminium smelter expansion plan
Reuters reported last week that aluminium production at Novelis has not fully resumed, more than four months after a fire disrupted supplies.
Hindalco had said in November that the incident would hit cash flow by $550 million to $650 million, adding that no one was injured and the blaze was contained to the hot mill.
Comments