PARIS, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Constellium SE (NYSE: CSTM) today announced that it is in the advanced planning stages of an investment to increase its recycling capacity in Europe. This project will be focused on using recycled material to provide slabs for Constellium’s automotive and packaging businesses in Europe. This strategic initiative is expected to add a minimum of 60 kt of annual capacity to Constellium’s current recycling footprint, which is already one of the largest in the world.
"We are excited about the potential to increase our recycling capacity in Europe. We already benefit from the inherently sustainable aspects of aluminium, including its strength, its light weight, and its infinite recyclability. An investment in expanding our recycling capacity is a strong demonstration of our commitment to sustainability. I expect this will be a meaningful contributor to both our financial and ESG objectives over time,” said Jean-Marc Germain, Constellium CEO. “Furthermore, aluminium is at the epicenter of several sustainability mega-trends across our packaging, automotive, and transportation end markets. As a result, our customers are increasingly demanding products that are sustainably and responsibly produced. We expect this investment will provide opportunities for Constellium to expand its low-carbon product offerings to meet customer needs.”
The inherently sustainable attributes of aluminium are driving increased demand for the advanced aluminium solutions produced by Constellium. In packaging, aluminium cans are the most recycled beverage containers, infinitely reborn in a “closed loop” process that has them back on the shelf in 60 days. In automotive and transportation, aluminium helps advance greener mobility by improving fuel economy, reducing CO2 emissions, increasing electric vehicle range, and improving safety.
Recycling scrap is critical to the aluminum life cycle. Using scrap reduces the need for primary aluminium and therefore minimizes waste, avoids resource depletion, and lowers greenhouse gas emissions across a product’s life cycle. Aluminium is infinitely and easily recyclable, with 75% of all aluminum ever produced still in use today. Using scrap aluminium is also more energy efficient and has a lower environmental impact than primary aluminium. Recycling scrap requires only 5% of the energy used to produce primary metal and delivers up to 95% in CO2 savings when compared to virgin material.
Constellium expects to finalize the scope and location of the project by the end of 2021, which will be dependent upon finalizing engineering and obtaining required permits. Start of production is expected to begin within two years of when construction begins. Constellium will provide regular updates on this important strategic initiative.
◢ About Constellium
Constellium (NYSE: CSTM) 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 €5.9 billion of revenue in 2019.
◢ 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, while others are more specific to our business and operations. These risks and uncertainties include, but are not limited to: market competition; economic downturn; disruption to business operations, including the length and magnitude of disruption resulting from the global COVID-19 pandemic; the inability to meet customer demand and quality requirements; the loss of key customers, suppliers or other business relationships; the capacity and effectiveness of our hedging policy activities; the loss of key employees; levels of indebtedness which could limit our operating flexibility and opportunities; 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 update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.
|Ryan Wentling – Investor Relations||Delphine Dahan-Kocher – Communications|
|Phone: +1 (443) 988-0600||Phone: +1 443 420 7860|