Novelis
Your position:Home > Company Profile
Novelis receives approval from European Commission for proposed acquisition of Aleris
release time :2019-10-01 13:33:36 page view:131

Oct. 1, 2019 - Novelis Inc., the world leader in aluminum rolling and recycling, today announced that the European Commission has approved its proposed acquisition of Aleris Corporation.


The approval is conditioned upon the sale of Aleris' plant in Duffel, Belgium, which produces aluminum for the automotive and specialties markets. Novelis is working expeditiously to market the plant to potential buyers, with the chosen counterparty and the definitive agreement for divestiture subject to European Commission approval.  


With this conditional approval in the European Union, as well as a clear path forward for approval in the U.S., Novelis continues to work closely with the Chinese State Administration for Market Regulation (SAMR) to receive its approval.


"Today's announcement is another step forward in bringing Novelis and Aleris together, which will benefit our customers, employees and the aluminum industry as a whole," said Steve Fisher, President and CEO, Novelis Inc. "Overall, this transaction will strengthen our ability to compete against steel in the automotive market, meet growing customer demand for aluminum, achieve our recycling goals, and bolster our sustainability platform worldwide. In addition, it will further enhance our strategic position in Asia and diversify our overall product portfolio."


The company expects to close the transaction by January 21, 2020, the outside date under the merger agreement.

Novelis

Address: Atlanta, GA Postal Code: Website: http://www.novelis.com

Sponsored by: ACRI (The Association of China Refractories Industry), Tangshan YinNaiLian E-Business Co., Ltd.

Copyright © 2005-2020 Refractories Window All Rights Reserved

ICP经营许可证编号: 冀B2-20060049 ICP备案号: 冀ICP备11009155号-2