Governor Perdue Welcomes Novelis

Leading Rolled Products Company to Establish Global Executive Headquarters in Atlanta

ATLANTA, GA – Governor Sonny Perdue today announced that Novelis has selected Atlanta as the site of its global executive headquarters. The newly-created rolled products company is expected to be spun-off by Canadian-based Alcan Inc. at the end of this year. Novelis will have its headquarters located in the Lenox Building in Buckhead, scheduled for completion by March 2005.

"We are proud to welcome Novelis to Georgia and to add them to the growing list of global industry leaders who call Georgia home," Governor Perdue said. "Our superior transportation and communications infrastructure, diverse international industry base and pro-business attitude will prove to be strategic advantages to this fast-growing business leader."

The headquarters will represent a $2.5 million investment and will employ more than 50, with a payroll of approximately $15 million. Two facilities currently operating in Georgia will also be part of Novelis. One is a recycling center in Greensboro, Ga. and the other is a foil sales office in LaGrange, Ga.

Based on past 12 months revenues of over $7 billion and approximately 13,500 employees, Novelis would rank 270th on the Fortune 500 list. It will be the world’s largest aluminum rolling and can recycling company by revenue and production volume. The company will operate 37 facilities in 12 countries throughout North America, South America, Europe and Asia.

"Atlanta is known worldwide for its economic vitality and its vision as a nationally and internationally competitive city," Novelis President and CEO elect Brian Sturgell said. "We share a similar vision for our corporation, and we believe that there isn’t a better place in the world for our new executive headquarters to call home."

"Novelis produces products that touch us all, from automotive equipment to food and beverage packaging, construction materials to aluminum foil," Georgia Department of Economic Development Commissioner Craig Lesser said. "We are pleased to work with a company that delivers products that are so much a part of everyone’s lives."

The parent company, Alcan Inc. is headquartered in Montreal, Canada with a U.S. headquarters in Cleveland, Ohio.