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Novelis, an Alcan Inc. spin-off, begins life Jan. 1 as a $6.2 billion aluminum rolling company with $650 million a year in revenue from producing aluminum sheet for hoods, deck lids and other automotive stampings.
Last year, Canada's Alcan purchased Pechiney of France and was ordered by European regulators to sell the rolled aluminum division of either Alcan or Pechiney.
Alcan's rolled products unit — now Novelis — is much larger, which is why the company chose to spin it off.
