Atlas Holdings has reached an agreement to sell Aludium (consisting of the three former Alcoa production plants located in Spain and France) to Jupiter Aluminum. The sale is expected to be completed during the second quarter of 2023, although the total amount has not been disclosed to the public.
BNP Paribas was in charge of advising Atlas Holding, a company that manufactures aluminum laminate products and has establishments in Europe. This company is concerned with sustainability and has a diverse portfolio.
“After a successful period of ownership in which Aludium became an independent company and expanded its recycling activities as a key driver in the business, now is the right time for the competent Aludium team to move forward with a new partner in its next stage of growth,” explained Peter Bacon, Atlas operating partner and Aludium Board of Directors member.
For the past three decades, Jupiter Aluminum has been working on aluminum recovery. This U.S. organization currently has dedicated recycling facilities in Indiana and West Virginia, including laminating plants and a paint application line.
With the purchase, Jupiter Aluminum is moving forward towards its goal of expanding in Europe. Aludium has the necessary tools to give a plus to the current operations and therefore expand the products offered to the market. Paul-Henri Chevalier, CEO of the company, reflected this in his statement.
After closing this agreement, Aludium will not neglect its responsibilities and customer relations. In a statement made by Lionel Chapis, Aludium’s CEO, he indicated that Aludium’s partnership with Atlas Holding served to create a secure future together with Jupiter Aluminum. He also stated that the main objective will continue to be to offer the best products and services to its consumers and at the same time work together to combat disastrous global warming.
