Constellium acquires aluminum sheet facility

Constellium completed the $ 1.4 billion acquisition of the Colbert County manufacturing complex, part of the international holding company Wise Metals. For the first time, the company announced the deal in October last year, and it was clarified that in accordance with the mutual agreement, $ 445 million was deposited in cash, and $ 945 million should be paid later to pay off the debt.

The acquisition of part of Wise Metals will give Constellium full access to 450,000 tonnes of hot rolling capacity, which will increase the company's influence in the North American aluminum market. The existing production mainly focuses on the production of aluminum products for the automotive sector. In addition, the company plans to invest approximately $ 750 million annually until 2022 in the infrastructure of Muscle Shoals, where the acquired production facility is located, in order to increase the company's participation in the life of the population.

Constellium CEO Pierre Vareilly said the company would benefit from increased resources and technical capabilities in aluminum sheet production, as well as benefit from broader coverage of the global aluminum market through its newfound operational flexibility.

In a statement, he added that the latest acquisition is an important milestone for the company and will enable the company to provide its customers around the world with a wide variety of quality products. The new facility will also strengthen Constellium's position in Europe as a leading group.