European value-added aluminium firm Constellium NV announced this week the sale of its Ussel facility to French investment company Noe Industries.
The Ussel facility specializes in precision aluminium casting. Its book of business largely consists of aerospace and defense sector clients.
In 2021 the plant boasted a revenue of €20 million (US$21.6 million) and is operated by a workforce of 250 workers.
Constellium says the transaction has already cleared regulatory hurdles and has been approved of by the relevant labor unions. The specific terms of the deal remain confidential.
Noe Industries is an investment fund specializing in rehabilitating distressed French businesses. The organization was founded and financed by industrial and business experts to offer capital and expertise to such companies. It boasts €30 million (US$32.3 million) in available capital and specializes in firms that produce between €20 million (US$21.6 million) and €80 million (US$86.4 million) in annual revenue.
Constellium, based in France, was founded 1855 as Henri Merle et Compagnie and subsequently renamed Pechiney in 1950. Pechiney was purchased by Alcan in 2003, which was purchased by Rio Tinto in 2007. In 2011 Rio Tinto sold Alcan Engineered Products to Apollo Management (51%) and FSI (10%). Constellium produces rolled and extruded aluminium products from various alloys, bringing in €6.2 billion of revenue in 2021.
