Scriba, N.Y. – Novelis Inc. says its cash flows will take a hit of up to $650 million just from the first of three fires that hit its massive aluminum plant in Oswego County in the past two months.

In addition, the company said the first fire cost it at least $21 million in repair and other costs.

And those costs are likely to go even higher when the damage caused by two subsequent fires at the plant is calculated.

That’s the bad news.

The good news is the company says it has insurance that will largely cover the losses from the Sept. 16 fire, which shut down the plant’s hot mill. That’s where blocks of aluminum begin their transformation into metal sheets for the automotive industry.

Novelis disclosed the financial damage in an earnings report for the three months that ended Sept.

See Full Page