GFG Alliance has reached an agreement with Novelis to buy Aleris’s Duffel aluminium rolling mill in Belgium, S&P Global Platts reported. The deal is subject to review and consents from EU authorities and China's State Administration for Market Regulation.
GFG said it expects the Duffel deal to be closed in the coming months.
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Novelis earlier this year received the approval of the European Commission for its $2.6 billion proposed acquisition of US aluminium rolled products manufacturer Aleris Corporation on the condition that it would sell Aleris' plant in Duffel in Belgium.
"The deal is consistent with GFG Alliance's strategy to create an international, vertically integrated aluminium business," a GFG Alliance spokesman told S&P Global Platts. "The addition of Duffel to our value chain would unlock significant synergies for our production sites at Dunkerque and Lochaber, specifically regarding freight and R&D and would also enhance our product offering."
Duffel plant, one of the largest rolling mills in Europe, produces rolled products from aluminium and special alloys for the auto industry.
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