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June 12, 2014 /PRNewswire/ -- Constellium N.V. (NYSE and NYSE Euronext: CSTM) announced today that it has finalized a €15 million investment in its site located in Decin,
Czech Republic, to further its strategy of boosting production capacity of high-volume specialty alloy products to supply primarily the European automotive market. The investment includes a new casthouse and extrusion line that will increase production of hard alloys extrusions by almost 10,000 tons per year.
This investment strengthens Constellium's position as a global leader in the production of highly-specialized hard-alloy bars and tubes. Constellium's products are supplied in various tailored alloy dimensions and shapes. Their high-tolerance properties and quality enable in particular high-speed machinability by our customers. The extrusion line is now running at full capacity in order to meet growing demand for ESP and ABS aluminium blocks, parts for automatic gear boxes and car suspensions among others.
"Constellium's investment in the plant in Decin is a critical part of our strategy to fully capitalize on the growing demand for aluminium automotive structures and components that is mainly driven by light-weighting," said
Paul Warton, President of Constellium's Automotive Structures and Industry business unit.
"This investment also paves the way for a new recycling facility at the Decin site, which will enable Constellium to deploy its innovative recycling technology. The facility will process and recycle aluminium scrap from Constellium's key automotive customers in
Europe. A key advantage of aluminium is that it is infinitely recyclable and retains all of its original properties throughout the recycling process. These properties make aluminium an environmentally responsible and economical choice," added
Constellium 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 €3.5 billion of revenue in 2013.
www.constellium.comForward 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 condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they contain words such as, but not limited to, "believes," "expects," "may," "should," "approximately," "anticipates," "estimates," "intends," "plans," "targets," likely," "will," "would," "could" and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and markets. Others are more specific to our business and operations. These risks and uncertainties include, but are not limited to those 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 publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.