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.
News Market Reaction – CSTM
On the day this news was published, CSTM gained 1.41%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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
| 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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