Constellium is exploring a possible divestiture of its plant in Sabart, France
New York, 19 July, 2013 – Constellium N.V. (NYSE and NYSE Euronext: CSTM) has announced that as part of its strategy to refocus its resources on core activities - rolling and extrusion - it is exploring the potential sale of its plant in Sabart, France.
Today, Constellium informed the employee representative bodies of the plant of the potential divestiture during a meeting with the Works Council.
The Sabart plant is a European supplier of hard alloy billets and has limited synergies with Constellium’s core businesses. With 34 employees, the facility generated approximately €16 million of the approximately €3.6 billion of revenue Constellium generated in 2012.
Constellium and its advisors are considering the potential divestiture with the objective of finding a suitable buyer committed to the future development of the plant. Constellium will be conducting a thorough assessment of offers made by potential buyers with respect to short and mid-term financial robustness as well as to investment capacities and development plans.
Constellium can provide no assurances as to whether a suitable buyer will be found or the terms and conditions of any agreement entered into with a potential buyer.
Media relations Constellium Corporate
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Forward Looking Statement
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 certain 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.
The occurrence of the events described in the release, including the divestment of the Sabart plant, whether a suitable buyer will be found, the terms and conditions of any such sale, a buyer’s future plans for the plant depend on many events, some or all of which are not predictable or within our control. Actual results may differ materially from the forward-looking statements contained in this press release. All forward-looking statements in this press release and subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the cautionary statements.
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