The U.S. Justice Department on Wednesday filed a lawsuit aimed at stopping Novel...
FILE PHOTO: The logo of aluminum producer Novelis, part of Aditya Birla Group, in Sierre, Switzerland, September 12, 2018. REUTERS/Denis Balibouse/File Photo
The department said in a statement that the deal would combine two of the four major North American producers of aluminum to make automobile bodies. The department described Ohio-based Aleris as an “aggressive competitor” and said the deal would give Novelis up to 60% of projected domestic capacity. The company also said the Justice Department failed to understand that the market was bigger than just aluminum and that aluminum competed with steel.
“We continue to believe that this acquisition will be extremely positive for Aleris customers, employees and shareholders,” Aleris Chairman and Chief Executive Sean Stack said in a statement.
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