Atlas Holdings LLC launches its newest operating company Aludium with the acquisition of rolling mills in Spain and France from Alcoa, a global leader in lightweight metals technology, engineering, and manufacturing. Included in the transaction are mills located in Amorebieta and Alicante (Spain) and Castelsarrasin (France), as well as the state-of-the-art Cindal research and development facility in Alicante. Terms of the transaction were not disclosed.
Aludium produces engineered, high-quality products for a broad array of sectors including building and construction, brights and decoration, and closures and cosmetics. The company will maintain its existing focus on these core markets.
“Our objective is to become Europe’s premier supplier of aluminium sheets, shapes and coils, and to provide a platform for growth, stability and enduring relationships with our customers,” stated Manuel Ruano, Aludium’s President and Chief Operating Officer.
Aludium will be led by Chief Executive Officer Arnaud de Weert who will work closely with Manuel Ruano, who is responsible for Aludium’s day-to-day operations. Formerly Operations Director-Europe for Alcoa’s European rolling mills, Ruano has more than a decade of experience leading aluminium production facilities, including the three mills that comprise Aludium.
“While the recent industry trend of aluminium companies is to focus their energies, innovation, and capital resources on the automotive and aerospace markets, Aludium will redouble its commitment to the industry’s core markets, continuing to provide premium service to our mills’ historic customer base,” stated Andrew Bursky, Chairman of Atlas Holdings. “We are thrilled to welcome Aludium and its 800 associates into the Atlas family of companies.”