Alcoa Inc. is taking over full control of the Evermore Recycling LLC aluminum can recycling joint venture it operated with Novelis Inc.
The Pittsburgh-based Alcoa said in a news release it reached an agreement with the Atlanta-based Novelis to assume full control of Evermore Aug. 31. Alcoa will make Evermore part of Alcoa’s Global Packaging group. Evermore will continue to be based in Nashville, Tenn.
Alcoa said employees of the joint venture are being given the opportunity to join the respective companies.
Evermore purchases more recycled cans than any other group worldwide, Alcoa said.
"When the opportunity first presented itself, we immediately said we wanted Evermore,” said Andrey Donets, president of Alcoa Global Packaging. “We are confident the strong relationships we have in the scrap market will grow even stronger as we take over full control of the company. “