AMSTERDAM, The Netherlands, May 17, 2018 (GLOBE NEWSWIRE) -- Constellium N.V. (NYSE:CSTM) announced today that it is expanding its operations in Decin, Czech Republic, to support increased demand for aluminium profiles by its customers. Expected to be completed by October 2019, the expansion will include a new casthouse and extrusion press, and will increase the plant's recycling capacity.
Europe's largest integrated manufacturer and processor of hard and soft alloys profiles, Constellium Decin produces customized aluminium extrusions primarily for automotive and industrial applications. With this added capacity, the plant will broaden its product portfolio to include sections for Crash Management Systems and for new aluminium applications for hybrid and electric vehicles. Constellium currently employs more than 800 people in Decin and expects to create approximately 90 new jobs at the plant by end of 2019.
Constellium previously expanded its Decin operations in 2015 to increase production of hard alloy extrusions. Both developments further Constellium's strategy of boosting production capacity of high-volume specialty alloy products and extrusions.
"As the auto industry increasingly turns to lightweight, high-strength aluminium, Constellium's expansion in Decin will support rising demand for hard and soft alloy profiles and bars from automotive customers across Europe," said Paul Warton, President of Constellium's Automotive Structures and Industry business unit. "This new activity is expected to increase Decin's total extrusion capacity to 96,000 metric tons per year."
Constellium Decin currently has an integrated foundry and 12 presses for direct and indirect extrusion production, as well as equipment for additional downstream operations, such as sawing and milling.
Constellium (NYSE:CSTM) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including automotive, aerospace and packaging. Constellium generated 5.2 billion of revenue in 2017.
Forward Looking Statement
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, economic downturn, the loss of key customers, suppliers or other business relationships; disruption to business operations; the inability to meet customer quality requirements; delayed readiness for the North American Auto Body Sheet market, the capacity and effectiveness of our hedging policy activities, failure to retain key employees, 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.
|Delphine Dahan-Kocher - Communications, NA||Anne Plaisance - Communications, Europe|
|Phone: +1 (212) 858 9963||Phone: +33 (0)1 73 01 46 73|
|[email protected]||[email protected]|
|Ryan Wentling - Investor Relations||Stacie Tong - Communications,|
|Phone: +1 (212) 675 5450||Automotive Structures and Industry|
|[email protected]||Phone: +1 (734) 879 9727|
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Constellium Paris via Globenewswire