AMSTERDAM, The Netherlands, March 01, 2018 (GLOBE NEWSWIRE) — Constellium N.V. (NYSE:CSTM) announced today the grand opening of its new Automotive Structures plant in San Luis Potosí, Mexico, to supply aluminium Crash Management Systems and structural components to automakers in Mexico.
The 5,000 sq m facility in San Luis Potosí features the latest technology for forming, machining, welding and heat-treating aluminium automotive components, along with a state-of-the-art quality lab to ensure products meet customers’ precise specifications. The plant is expected to have 100 employees by 2019 and may be expanded to 13,000 sq m to adapt to customers’ future supply needs. The automotive industry expects more than five million vehicles will be assembled annually in Mexico by 2020, making it one of the largest markets for automobile production.
“It is an exciting day for Constellium as we expand our footprint in North America to better serve our customers and become part of the growing automotive industry in Mexico,” said Paul Warton, President of Constellium’s Automotive Structures & Industry business unit. “The San Luis Potosí plant is well-positioned to serve multiple customers, and to provide advanced aluminium solutions as the industry trend to electric vehicles gains momentum.”
Last year Constellium opened a new plant in White, Georgia, to supply automakers in the southeast U.S., in addition to its existing location in Van Buren, Michigan. A new joint venture (Constellium-Can Art) plant near Windsor, Ontario, Canada, called Astrex, produces aluminium extrusions for Constellium’s automotive projects in North America.
Aluminium continues to be a material of choice in the automotive industry to make vehicles lighter, safer and to improve the range of electric vehicles. Constellium develops high-strength alloys adapted to customer performance requirements and also designs, simulates, prototypes and tests advanced aluminium automotive components, including Crash Management Systems, body structure components and battery enclosures.
Constellium (NYSE:CSTM) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including automotive, aerospace and packaging. Constellium generated €5.2 billion of revenue in 2017.
Forward Looking Statement
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, economic downturn, the loss of key customers, suppliers or other business relationships; disruption to business operations; the inability to meet customer quality requirements; delayed readiness for the North American Auto Body Sheet market, the capacity and effectiveness of our hedging policy activities, failure to retain key employees, and other risk factors set forth under the heading “Risk Factors” in our Annual Report on Form 20-F, and our registration statement on Form F-3 filed on October 30, 2017, 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.
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Source: Nasdaq Automotive News