Constellium to Sell Three German Extrusion Plants to Vaessen Aluminium
July 18 2023 - 8:00AM
Constellium SE (NYSE: CSTM) today announced that it signed a
binding agreement with Vaessen Aluminium for the sale of three of
Constellium’s soft alloy extrusion facilities located in Landau,
Crailsheim and Burg in Germany for a total cash consideration of
€48.8 million.
With nearly 450 employees, the three Constellium plants
specialize in soft alloy extruded products for the Building &
Construction, Transportation and Industry markets in Europe.
Vaessen Aluminium belongs to a longstanding
family-owned industrial group, headquartered in Belgium, active in
aluminium billets and profiles (E-Max), in lighting and ceiling
(Kreon) and in wall cladding (Limeparts Drooghmans).
The transaction is expected to close in the second half of 2023
and is subject to customary closing conditions and regulatory
approval.
About Constellium
Constellium (NYSE: CSTM) is a global sector
leader that develops innovative, value-added aluminium products for
a broad scope of markets and applications, including aerospace,
automotive and packaging. Constellium generated €8.1 billion of
revenue in 2022. www.constellium.com
Forward-looking statements
Certain statements contained in this press
release may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
This press release may contain “forward-looking statements” with
respect to our business, results of operations and financial
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and conditions. You can identify forward-looking statements because
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terminologies or expressions). All forward-looking statements
involve risks and uncertainties. Many risks and uncertainties are
inherent in our industry and markets, while others are more
specific to our business and operations. These risks and
uncertainties include, but are not limited to: market competition;
economic downturn; disruption to business operations; the Russian
war on Ukraine; the inability to meet customer demand and quality
requirements; the loss of key customers, suppliers or other
business relationships; supply disruptions; excessive inflation;
the capacity and effectiveness of our hedging policy activities;
the loss of key employees; levels of indebtedness which could limit
our operating flexibility and opportunities; and other risk factors
set forth under the heading “Risk Factors” in our Annual Report on
Form 20-F, and as described from time to time in subsequent reports
filed with the U.S. Securities and Exchange Commission. The
occurrence of the events described and the achievement of the
expected results depend on many events, some or all of which are
not predictable or within our control. Consequently, actual results
may differ materially from the forward-looking statements contained
in this press release. We undertake no obligation to update or
revise any forward-looking statement as a result of new
information, future events or otherwise, except as required by
law.
Jason Hershiser – Investor Relations |
Delphine Dahan-Kocher – Communications |
Phone: +1
443 988 0600 |
Phone: +1
443 420 7860 |
investor-relations@constellium.com |
delphine.dahan-kocher@constellium.com |
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