Constellium, UACJ Plan To Form JV In U.S. On Body-in-White Aluminium Sheet

(RTTNews) - Constellium N.V. (CSTM) announced that the company and UACJ Corp plan to create Joint Venture in the United States to produce Body-in-White aluminium sheet for the automotive industry.

Constellium and UACJ are working toward signing a definitive agreement in the first half of 2014.

Constellium and UACJ, through Tri-Arrows Aluminum Inc., will create a joint venture company in the United States, as an equal partnership. Tri-Arrows Aluminum is UACJ's subsidiary with Sumitomo Corporation and Itochu Group.

The Joint Venture is expected to include a continuous heat treatment and conversion line with an initial target capacity of 100,000 metric tons supplied by cold rolled coils from both partners' rolling mills. The planned facility is designed to allow for expansion beyond 100,000 tons. The total joint investment by both parties is expected to amount to approximately $150 million.