Arconic Inc. completed the divestiture of Arconic Fusina Rolling Srl, its Fusina, Italy, rolling mill to Slim AluminiumSpA for approximately $60 million after tax. The transaction follows a thorough review process and is part of Arconic Global Rolled Products’ (GRP) continued drive to convert the business from a commodity producer to a high-margin aerospace and automotive supplier. The acquired rolling company will become Slim Fusina Rolling srl.
Slim Aluminium is an Italy-based rolling mill business, fully owned by funds managed by Quantum Capital Partners GmbH. The company is the result of Quantum’s acquisition of a Norsk Hydro ASA rolling mill in Cisterna di Latina, Italy, in 2005. The company currently has a production capacity of around 92,000 tonnes per year, which includes the production of foil, a wide range of coils and sheets, circles and shaped blanks.
The additional capacity of Slim Fusina Rolling, together with its other rolling facility Slim Aluminium di Cisterna, will make Slim Aluminium the largest aluminum rolling company in Italy and among the top seven in Europe. It will also provide the company with industrial integration and will enable it to manufacture a wider range of products.
“Combining the common vision and values of both companies, we will continue to serve our major aluminum markets, with a service tailored to specific needs and provide the best possible solutions to our customers,” stated the company (translation from Italian). “Both Slim Aluminum and Slim Fusina Rolling will work to continue to provide excellent service, especially regarding quality and delivery performance. Our sales organization will remain independent with a strong market presence, so that we can create and deliver the highest levels of expertise from both plants.”
The company also stated that it will enter a new chapter as Slim Industries, a growing and independent industry group.