Constellium completes sale of building assets of Sierre plant to Novelis

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Constellium has completed the sale of the North Building Assets of its Sierre plant in Switzerland previously leased to Novelis for €200m.

In addition to the transaction, the company contributed the plant’s shared infrastructure to a 50-50 joint venture with Novelis. Constellium will continue to own and operate its casthouses, plate and extrusion manufacturing plants and other manufacturing assets at the Sierre plant. Constellium expects to use the proceeds from the sale to strengthen its balance sheet and increase its financial flexibility

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