Novelis to acquire leased Sierre operating facilities, manufacturing assets

Atlanta and Zurich – Novelis Inc., the world leader in aluminum rolling and recycling, today announced it signed a binding agreement to acquire operating facilities and manufacturing assets at its Sierre plant that have historically been leased. By doing this, Novelis will gain additional flexibility to continue serving the growing automotive aluminum sheet market and provide a more secure and stable future for its employees, customers and the community. The €200 million acquisition from Constellium, which is co-located on the site, is expected to close in the first quarter of fiscal 2019, subject to customary closing conditions. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India.

Source: Novelis (Press Release)