Historical Stock Chart
3 Years : From Oct 2016 to Oct 2019
AMSTERDAM, March 28, 2017 /PRNewswire/ -- Constellium N.V. (NYSE and Euronext Paris: CSTM) today announced that it has installed a new recycling furnace at its Muscle Shoals, Ala. facility in an effort to expand recycling capabilities in North America. The now fully operational furnace is expected to increase the total recycling output by 170 million pounds, or about 5.2 billion additional used beverage cans per year. The Muscle Shoals facility will then be expected to recycle the equivalent of nearly 20 billion cans per year – almost one-fifth of the cans sold in the United States.
"This new furnace is a major step for our Muscle Shoals facility, great news for our customers and an exciting step forward in our commitment to promote recycling and sustainability," said Mike Tanchuk, president and CEO of the plant. "This increased recycling capacity will enable us to better leverage aluminium's infinite recyclable properties."
Joe Pampinto, Muscle Shoals' plant manager, added: "I am proud of the team who delivered this state-of-the-art equipment. The furnace is now fully operating and this added recycling capacity will increase the molten metal supply required for customer deliveries."
Using advanced technologies, the new furnace, which meets the Best Available Control Technology (BACT) environmental requirements, is expected to improve the safety, energy efficiency and environmental footprint of the plant.
Known as Element 13, the recycling facility at the Muscle Shoals plant is one of the largest recyclers of used beverage containers in the world. This capacity, which enables the plant to recycle products at their end-of-life (EOL) as well as scrap from customers, contributes to Constellium's overall engagement to 'close the loop' in beverage can recycling. Constellium is part of the Sustainable Committee of the American Aluminum Association and works closely with the Can Manufacturers Institute to raise environmental awareness and promote recycling within communities.
Constellium (NYSE and Euronext Paris: CSTM) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated €4.7 billion of revenue in 2016.
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, the ability of Constellium and Wise to achieve expected synergies and the timing thereof; the risk that the businesses will not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; Constellium's increased levels of indebtedness as a result of the acquisition of Wise Metals, which could limit Constellium's operating flexibility and opportunities; the potential failure to retain key employees as a result of the acquisition of Wise Metals or during the integration of the business, the loss of customers, suppliers and other business relationships as a result of the acquisition of Wise Metals; disruptions to business operations resulting from the acquisition of Wise Metals; slower or lower than expected growth in the North American market for Body-in-White aluminium rolled products and other risk factors set forth under the heading "Risk Factors" in our Annual Report on Form 20-F, 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 publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.
Photo - http://mma.prnewswire.com/media/483455/Constellium_Muscle_Shoals_Recycling_Furnace.jpg
Logo - http://mma.prnewswire.com/media/463991/CONSTELLIUM_LOGO_Logo.jpg