|By PR Newswire||
|April 8, 2014 02:00 AM EDT||
-- One of the two new casthouses is part of the initial €52 million investment announced in 2013. Constellium plans to make an additional investment of about €43 million to build a second new casthouse and AIRWARE®-specific recycling capacity.
AMSTERDAM, April 8, 2014 /PRNewswire/ -- Constellium N.V. (NYSE and NYSE Euronext: CSTM) announced today that it will significantly increase the industrial capacity of its Issoire (France) plant to meet accelerating demand for its AIRWARE® technology.
Building on the experience of Constellium's first casthouse inaugurated in March 2013, which is already producing AIRWARE® at industrial scale, the two new state-of-the-art casthouses are expected to start and ramp-up production in 2015 and 2016 respectively.
These two additional casthouses will allow Constellium to nearly triple its production of advanced solutions based on its AIRWARE® technology, which was selected to be part of major new aerospace programs including Airbus' A350 XWB, Bombardier's CSeries and SpaceX's Falcon 9 Launcher.
"This strategic move demonstrates our ability to not only be the leading innovator in our field but also scale up the production of AIRWARE®, our patented range of aluminum-lithium alloys," stated Jean-Christophe Figueroa, President of Constellium's Aerospace and Transportation Business Unit. "Our investment, which will allow us to meet greater demand than anticipated under contract, clearly illustrates our long term commitment to strengthen our leading position in the aerospace market. And we intend to continue to expand our industrial platform in the future to accompany customer's needs," Figueroa added.
The AIRWARE® technology is considered a true game changer as it demonstrates a unique combination of strength, lightness, and improved corrosion resistance. Taking advantage of lower alloy density and improved material properties, AIRWARE® enables the re-design of structural parts and allows aircraft manufacturers to reduce the weight of aerospace components by up to 25 percent. AIRWARE® also eases the production of complex parts, guarantees higher durability due to its greater resistance to metal fatigue and corrosion, and contributes to the development of a more sustainable aerospace industry due to its infinite recyclability.
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 €3.5 billion of revenue in 2013.
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 those set forth under the heading "Risk Factors" in our most recent Form F-1 Registration Statement 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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