Atlas Holdings announces sale of Aludium to Jupiter Aluminum
GREENWICH, Conn., -Atlas Holdings (“Atlas”) and Jupiter Aluminum Corporation (“JAC”) jointly announced today the signing of a definitive agreement for JAC to acquire Aludium from Atlas. The sale is expected to close in the second quarter of 2023, following the completion of customary closing conditions. Terms of the transaction were not disclosed.
Atlas formed Aludium in 2015 following the purchase of the Spanish and French system rolling assets of Alcoa Corporation. Today, Aludium is a leading aluminum rolled products business with operations across three locations in Europe, a diverse product portfolio, an experienced team, and a firm commitment to sustainability.
“After a successful ownership period in which Aludium became an independently operated company and expanded its recycling activities as a key value driver of the business, now is the right time for the capable Aludium team to move forward with a new partner for their next stage of growth,” said Peter Bacon, Atlas Operating Partner and member of the Aludium Board of Directors.
JAC is an American industrial group based in the U.S. that has been recycling aluminum for more than 30 years. The company operates recycling assets, rolling mills, and paint lines in Indiana and West Virginia.
“With this acquisition, Jupiter Aluminum is pursuing its objective to expand in Europe. Aludium’s extended capabilities and experience represent an excellent opportunity to complement our existing operations and product offering in the market,” said Paul-Henri Chevalier, CEO of JAC.
Following the anticipated close of this transaction, Aludium will continue its focus on low-carbon recycling, product innovation, strong relationships with its customers, and close collaboration with its suppliers.
“Aludium is well positioned following its fruitful partnership with Atlas Holdings, which has laid the foundation for a strong future with Jupiter Aluminum. We will remain focused on delivering excellent products and service to our customers while combining our mutual industrial expertise to deploy our low-carbon strategic agenda,” said Lionel Chapis, CEO of Aludium.
With more than 60 years of industrial experience, ALUDIUM is a leading manufacturer of aluminum flat-rolled products in Europe. The company employs approximately 1,000 employees, offers to the market a diverse portfolio of high-quality aluminum sheets and coils. ALUDIUM’s products are distributed to clients worldwide, in architecture, energy, insulation, equipment, packaging and transportation sectors. Aludium develops innovative products and production processes through its Cindal R&D center.
