SHANGHAI: Novelis Inc., a global producer of premium aluminum rolled products, has signed an agreement with the Changzhou National Hi-Tech District to build its first automotive sheet manufacturing plant in China. The company, created in 2005 as a spin-off of aluminum producer Alcan Inc., says the wholly owned, $100-million plant will have a capacity of 120,000 tonnes per year and operating by late 2014. Novelis expects aluminum demand in the global automotive sector to grow at a compound annual rate of 25% over the next five years as auto manufacturers strive to make their vehicles more fuel-efficient. The move into China will position Novelis as the only aluminum sheet supplier capable of serving automotive customers in all major markets of the world. It serves customers in North America, South America, Asia and Europe.