ALTEO has received an offer from French industrial group Imerys for the acquisition of the companies ALTEO ARC and Alufin. An exclusivity period has been agreed between the parties and Alteo will answer to the offer once the legal process with the central work council of Alteo ARC is completed.
Alteo ARC operates a white fused alumina plant in La Bathie (Savoie - France) and a brown fused alumina plant in Beyrède (Hautes-Pyrénées – France). Alufin operates a tabular alumina plant in Teutschenthal (Germany).
The transaction is subject to the approval from the relevant regulatory authorities and, as long as it is not finalized, the companies will continue to operate as usual within ALTEO group.
Frédéric Ramé, President of ALTEO group, declared: “this project would allow Alteo, whose core business is to produce specialty aluminas in its Gardanne plant, to focus further on its strategic plan. This plan is based on the development of specialties sales, the continuous improvement of its operational performance and reduction of its environmental footprint. For La Bathie, Beyrède and Teutschenthal plants, their integration within the Imerys group would provide them with great opportunities for further development.”