ACQUISITION OF ALUMINIUM RHEINFELDEN
RUSAL , one of the world's leading aluminum producers, has received a no-objection certificate from the German Federal Ministry of Economics and Energy for the acquisition of Aluminium Rheinfelden, one of Germany's leading manufacturers of aluminum alloys, semi-finished products and carbon-based components. Founded in 1898, it is an important supplier to the global automotive industry, the mechanical engineering sector as well as the pharmaceutical and metallurgical industries. Previously, the deal was approved by the German Federal Cartel Office. Since the approval of all relevant authorities has been granted, the closing of the transaction will take place in accordance with the asset purchase agreement.
Roman Andryushin, sales and marketing director of RUSAL, said, "We are very pleased that the acquisition of Aluminium Rheinfelden has been approved by the relevant bodies. The company will retain all three existing business lines and expand its presence across the value chain through new advanced technologies for the benefit of Aluminium Rheinfelden's customers. Aluminium Rheinfelden's customer relationships and RUSAL's global scale complement both businesses and I am confident that this will bring value to all our stakeholders."
Eric Martinet, CEO of Aluminium Rheinfelden, added: "Operating within RUSAL will allow Aluminium Rheinfelden to unlock its full potential and scale its operations. As part of a well-capitalized company with a global scale, Aluminium Rheinfelden can now build its footprint in its current core automotive business and target new market niches, thus further strengthening our combined market position. In addition, our customers will benefit from access to a reliable supply of high-quality aluminum products with the lowest carbon footprint. I am pleased to welcome the management team of Aluminium Rheinfelden together with the company's excellent employees and look forward to working together."
RUSAL intends to invest in and rebuild Aluminium Rheinfelden's operations and provide a new generation of sustainable aluminum solutions that can be produced at scale in combination with RUSAL's smelters.