Constellium will continue to own and operate its casthouses, plate and extrusion manufacturing plants and other manufacturing assets at Sierre. As part of this agreement, the two companies agreed to enter into long-term production and metal supply agreements.
Constellium and Novelis have agreed to suspend the arbitration proceedings on the Sierre facility dispute until closing of this transaction, which is expected in the second quarter of 2018 and subject to customary closing conditions.
Focused on the production of aluminium sheet for the automotive industry, Novelis’ Sierre plant has been supplying the market for more than 20 years and is a leading location in Europe for the production of aluminium sheet for the automotive industry. Novelis maintains at Sierre a fully integrated system, covering the entire process from casting to finishing. The casthouse is capable of casting standard single alloys as well as multi-alloy ingots. In addition to its hot and cold rolling mills, the plant operates a state-of-the-art continuous annealing line for automotive sheet and has laser cutting capability.