Novelis sees bigger cash flow hit from Oswego fire, posts $84m loss

Novelis anticipates a greater impact on its cash flows due to fires at its Oswego unit. The company will, however, restart the hot mill ahead of schedule. Higher savings are expected from cost-reduction initiatives in the medium term. The net loss for the quarter was 84 million dollars. Rolled product shipments fell 12 percent year-on-year.