Constellium to build greenfield manufacturing facility for automotive structures in Bartow County, Georgia, USA
Amsterdam / CRWEPRESSRELEASE / November 24, 2015 - Constellium N. V. (NYSE and Euronext: CSTM) announced today that it will construct a new manufacturing facility in Bartow County, Georgia, in response to growing demand for its automotive structures in North America. This project represents a $20 million investment by Constellium and an additional $12 million investment by developer Seefried Properties, for a total project value of $32 million. Construction of the plant will begin in early 2016 with start of production anticipated in 2017. Constellium expects to create approximately 150 high-tech manufacturing jobs at this location by 2019.
“The new Georgia plant demonstrates Constellium’s commitment to work in partnership with automakers in North America and to be near their assembly plants,” said Paul Warton, President of Constellium’s Automotive Structures and Industry business unit. “This expansion of our footprint in the Southeast United States will allow us to better serve our automotive customers and to respond the industry’s growing demand for aluminium structural parts to lighten vehicles, improve fuel economy and reduce environmental impact.”
The planned 84,000 square foot greenfield facility may be expanded up to 220,000 square feet to adapt to customers’ supply needs in the future.
“Georgia has a strong business climate and an advanced technical education network to provide a skilled workforce for our operations,” commented Eric Krepps, Vice President and General Manager of Constellium Automotive Structures North America. “We are grateful for the warm welcome we have received from the State of Georgia, Bartow County and a number of partners to help achieve our business goals.”
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 €3.7 billion of revenue in 2014. www.constellium.com
Forward 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, the ability of Constellium and Wise to achieve expected synergies and the timing thereof; the risk that the businesses will not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; Constellium’s increased levels of indebtedness as a result of the acquisition, which could limit Constellium’s operating flexibility and opportunities; the potential failure to retain key employees as a result of the acquisition or during the integration of the business, the loss of customers, suppliers and other business relationships as a result of the acquisition; disruptions to business operations resulting from the acquisition; slower or lower than expected growth in the North American market for Body-in-White aluminium rolled products 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 publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.
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Source: Constellium N. V.