Constellium sells its facility in Ussel, France to Noe Industries

Rhea-AI Summary

Constellium (NYSE: CSTM) has completed the divestment of its Ussel plant to Noe Industries. This facility employs 250 people and generated approximately €20 million in revenue in 2021, specializing in precision casting for the aerospace and defense sectors. The transaction follows the successful regulatory consultation process with employee representatives. Specific terms of the deal will remain confidential. This divestment aligns with Constellium's strategy to streamline operations and focus on core business areas. In 2021, Constellium reported total revenue of €6.2 billion.

Positive

• Successful divestment of Ussel plant, aligning with strategic focus.
• Ussel plant generated €20 million in revenue in 2021.

Negative

• None.

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PARIS, Feb. 03, 2023 (GLOBE NEWSWIRE) -- Constellium (NYSE: CSTM) announced today the completion of the divestment of its Ussel plant to French Investment Holding Noe Industries.

With 250 employees, and revenue of approximately 20 million euros in 2021, the Ussel facility specializes in precision casting for the aerospace and defense sectors.

This announcement follows the completion of the regulatory information and consultation process of the employee representative bodies.

The terms of the transaction will remain confidential.

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 €6.2 billion of revenue in 2021.

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

FAQ

What recent transaction did Constellium (CSTM) announce?

Constellium announced the divestment of its Ussel plant to Noe Industries.

How much revenue did the Ussel plant generate in 2021?

The Ussel plant generated approximately €20 million in revenue in 2021.

What is the focus of the Ussel plant that was sold by Constellium?

The Ussel plant specializes in precision casting for the aerospace and defense sectors.

What is Constellium's reported revenue for 2021?

Constellium reported total revenue of €6.2 billion in 2021.

How many employees did the Ussel plant have at the time of the sale?

The Ussel plant employed 250 people at the time of the sale.