Constellium SE, a global leader in manufacturing high-value-added aluminium products and solutions, announced that it is selling three of its soft alloy extrusion facilities to Vaessen Aluminium. As per the report, Constellium has already signed a binding agreement with Vaessen for selling the facilities located at Landau, Crailsheim and Burg in Germany for €48.8 million.
Three of these Constellium plants have 450 employees in total. They are specialised in manufacturing soft alloy extruded products for the Building & Construction sector, Transportation, and Industry markets in Europe.
The transaction is likely to close in the second half of 2023, subject to customary closing conditions and regulatory approval.
Vaessen Aluminium, headquartered in Belgium, is a family-owned industrial group. It manufactures aluminium billets and profiles' E-max' with a maximum input of recycled aluminium, lighting and ceiling 'Kreon', and wall cladding 'Limeparts Drooghmans'.