AMSTERDAM, Oct. 1, 2014 /PRNewswire/ -- Constellium N.V. (NYSE and NYSE Euronext: CSTM) announced today that it was awarded an additional contract to supply can stock to Rexam PLC (REX.L.), a leading beverage can maker. Under this agreement, Constellium will support Rexam's strategic decision to convert all the can production lines of their two Spanish plants - La Selva and Valdemorillo - from steel to aluminium. This contract strengthens a long-standing relationship between Constellium and Rexam.
"We are delighted to support Rexam in its substitution process from steel to aluminium. Packaging, in particular can stock, is a bedrock of Constellium's portfolio." commented Laurent Musy, President of Constellium's Packaging and Automotive Rolled Products business unit. "By partnering with Rexam to convert its can lines in Spain, Europe's second largest can market, Constellium will contribute to growing the share of aluminium use in beverage cans in Europe, currently at 79%," he added.
Constellium expects can makers across Europe to continue converting their production lines from steel to aluminium due to its many advantages for packaging applications. Aluminium provides an excellent barrier to oxygen, light, and moisture while featuring a shiny appearance. Because of its lightweight and resilient properties, and the fact that it can be endlessly recycled without loss of property, aluminium contributes to the reduction of freight loads and fuel costs.
Constellium is Europe's largest supplier of aluminium can body stock and plays a leading role in recycling, a key business and environmental commitment. Constellium endorses the recycling rate target of 75 percent by 2015 set by the aluminium industry for beverage cans in Europe and participates in initiatives like "Every Can Counts" that encourages can recycling at work and on-the-go. As part of its active sustainable development strategy, Constellium is also a founding member of the Aluminium Stewardship Initiative that is a unique aluminium value chain program that will define and deliver the first standard for responsible aluminium.
About Constellium
Constellium 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 €3.5 billion of revenue in 2013.
www.constellium.com
Forward Looking Statements
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 those 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.
Logo - http://photos.prnewswire.com/prnh/20130624/NY37453LOGO
SOURCE Constellium