Constellium Unveils its Newly Expanded Automotive Structures Facility in Van Buren, MI
AMSTERDAM, April 10, 2015 /PRNewswire/ -- Constellium N.V. (NYSE and NYSE Euronext: CSTM) today unveiled its newly expanded plant in Van Buren, Michigan. This state-of-the-art facility produces customized automotive structures and features advanced prototyping and development capabilities. The 210,000 square foot expansion project has doubled plant manufacturing capacity for a total $40 million investment.
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"Constellium is making extensive investments across the United States both in automotive structural parts and Body-in-White," said Pierre Vareille, Chief Executive Officer of Constellium. "Through the newly expanded Van Buren plant we are now well-positioned to take full advantage of the growing automotive demand for aluminium structures in North America."
"Van Buren is an ideal location," commented Paul Warton, President of Constellium's Automotive Structures and Industry business unit. "Its proximity to the automotive industry in Detroit enables us to work closely with our OEM customers and suppliers to ensure our products meet customized, precise specifications and performance expectations." Constellium's expansion in Van Buren has created over 200 new jobs, enabling the industrial facility to reach a total of 370 full-time employees.
About Constellium
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.
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 transaction, which could limit Constellium's operating flexibility and opportunities; the potential failure to retain key employees as a result of the transaction or during the integration of the business, the loss of customers, suppliers and other business relationships as a result of the transaction; disruptions to business operations resulting from the transaction; slower or lower than expected growth in the North American market for Body-in-White aluminum 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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